RNS Number : 1178Z

Rainbow Rare Earths Limited

20 January 2022

20 January 2022

Rainbow Rare Earths Limited

("Rainbow" or "the Company")


Retirement of Non-Executive Director

Rainbow Rare Earths, the rare earths company with assets in South Africa and Burundi, today announces that Robert Sinclair, a Non-Executive Director who has been on the Board of Rainbow since the incorporation of the Company in 2011, will retire with immediate affect due to health reasons.

Rainbow Rare Earths Chairman, Adonis Pouroulis, commented:

"I would like to thank Robert for the considerable contribution he has made to Rainbow during his years of service. Robert has added a considerable amount of value to the Board since we founded the Company in 2011. On behalf of the Rainbow team, we wish him full recovery and good health and all the best for his future endeavours."


For further information, please contact:

 Rainbow Rare Earths                        George Bennett 
  Ltd                            Company     Pete Gardner        +27 82 652 8526 
 SP Angel Corporate                         Ewan Leggat 
  Finance LLP                    Broker      Charlie Bouverat    +44 (0) 20 3470 0470 
 Flagstaff Strategic                         Tim Thompson        +44 (0) 207 129 1474 
  and Investor Communications                 Fergus Mellon       rainbowrareearths@flagstaffcomms.com 

Notes to Editors:

Rainbow Rare Earth's strategy is to become a globally significant producer of rare earth metals. Nd/Pr are vital components of the strongest permanent magnets used for the motors and turbines driving the green technology revolution. Analysts are predicting demand for magnet rare earth oxides will grow substantially over the coming years, driven by accelerating the adoption of green technology, pushing the overall market for Nd/Pr into deficit.

The Phalaborwa Rare Earths Project, located in South Africa, comprises an Inferred Mineral Resource Estimate of 38.3Mt at 0.43% total rare earths oxides ("TREO") contained within gypsum tailings stacked in unconsolidated dumps derived from historic phosphate hard rock mining. High value Nd/Pr oxide represent 29.1% of the total contained rare earth oxides, with economic Dysprosium and Terbium oxide credits enhancing the overall value of the rare earth basket contained in the stacks. The rare earths are contained in chemical form in the gypsum dumps, which is expected to deliver a higher-value rare earth carbonate, with lower operating costs than a typical rare earth mineral project.

The Company's Gakara Project in Burundi has produced one of the highest-grade concentrates in the world (typically 54% TREO) through trial mining operations. The Gakara basket is weighted heavily towards Nd/Pr, which account for over approximately 19.5% of the contained TREO and 85% of the value of the concentrate.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

January 20, 2022 08:00 ET (13:00 GMT)

Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De May 2022 a Jun 2022 Haga Click aquí para más Gráficas Rainbow Rare Earths.
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Jun 2021 a Jun 2022 Haga Click aquí para más Gráficas Rainbow Rare Earths.