Rainbow Rare Earths has reported positive results in sampling for neodymium and praseodymium at its Phalaborwa site in South Africa. The materials are among so-called ‘rare earths’ that are vital components of the permanent magnets used in wind turbines and other generatorsand there are concerns that global supply of the elements is too tightly held by China.
George Bennett, CEO, said: “These assay results go a long way to confirming the substantial tonnage and value of the Phalaborwa Rare Earths Project in terms of both in-situ grade and the consistency of the high value NdPr content in the rare earths basket.”
He said that the high-grade, homogenous deposits had characteristics that made them relatively easy to exploit (minimal geological uncertainty, no waste stripping requirements and where the gypsum holding the material is ready to process).
Rainbow’s Gakara Project in Burundi is currently the only African producer of rare earths.
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