Rainbow Rare Earths Limited European Raw Material Alliance Membership
16 Agosto 2022 - 1:00AM
RNS Non-Regulatory
TIDMRBW
Rainbow Rare Earths Limited
16 August 2022
16 August 2022
Rainbow Rare Earths Limited
("Rainbow" or "the Company")
LSE: RBW
European Raw Material Alliance Membership
Rainbow Rare Earths is pleased to announce it has become a
member of the European Raw Material Alliance ("ERMA"). ERMA is
working to ensure reliable, secure, and sustainable access to
critical and strategic raw materials, with a specific focus on the
rare earth magnet chain. Aiming to make Europe economically more
resilient, ERMA is looking to diversify supply chains, promote
innovation, create jobs, and attract investment. By 2030, ERMA's
activities will increase the production of raw and advanced
materials.
Rainbow CEO, George Bennett, commented :
"We are pleased to have been accepted as a member of ERMA - an
essential alliance which is working to accelerate the green and
digital transition through securing and reinforcing rare earths
supply chains. With our near-term development opportunity at
Phalaborwa, alongside our unique and innovative technologies and
processes, Rainbow is well positioned to contribute to a
responsible supply chain, unlocking sources of critical permanent
magnet rare earths which are required to drive global
decarbonisation."
**ENDS**
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
Tavistock Communications PR/IR Charles Vivian +44 (0) 20 7920 3150
Tara Vivian-Neal rainbowrareearths@tavistock.co.uk
About ERMA:
The European Raw Materials Alliance (ERMA) aims to make Europe
economically more resilient by diversifying its supply chains,
creating jobs, attracting investments to the raw materials value
chain, fostering innovation, training young talents and
contributing to the best enabling framework for raw materials and
the Circular Economy worldwide.
The Alliance addresses the challenge of securing access to
sustainable raw materials, advanced materials, and industrial
processing know-how. By 2030, ERMA's activities will increase the
production of raw and advanced materials and address Circular
Economy by boosting the recovery and recycling of Critical Raw
Materials. More specifically, the Alliance will:
-- Bolster the creation of environmentally sustainable and
socially equitable innovations and infrastructure.
-- Implement a Circular Economy of complex products like
electric vehicles, clean tech, and hydrogen equipment.
-- Support Europe's raw materials industry capability, to
extract, design, manufacture and recycle materials.
-- Promote innovation, strategic investment, and industrial
production across specific value chains.
About Rainbow Rare Earths:
Rainbow's strategy is to become a globally significant producer
of rare earth metals. Nd/Pr and Dy 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 increasing adoption of green
technology, pushing the overall market for Nd/Pr and Dy into
deficit.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises an Inferred Mineral Resource Estimate of 38.3Mt at 0.43%
TREO contained within gypsum tailings stacked in unconsolidated
stacks derived from historic phosphate hard rock mining. High-value
NdPr oxide represents 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 in the stacks.
The rare earths are contained in chemical form in the gypsum
stacks, which is expected to allow high-value separated rare earth
oxides to be produced 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 rare earth concentrates in the world (typically 54%
total rare earths oxides ("TREO")) through trial mining operations.
The Gakara basket is weighted heavily towards Nd/Pr, which account
for approximately 19.5% of the contained TREO and 85% of the value
of the concentrate. The Gakara project is currently on care and
maintenance at the request of the Government of Burundi.
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