London, 22 November 2019. Rainbow Rare Earths Ltd, the Rare Earth Element ("REE") mining company, is pleased to be announce that it has appointed SP Angel Corporate Finance LLP as Joint Broker to the Company.
For further information, please contact
Rainbow Rare Earths Ltd
+27 82 652 8526
+44 (0) 20 3910 4551
SP Angel Corporate Finance LLP
+44 (0) 20 3470 0470
Turner Pope Investments
+44 (0) 20 3657 0050
St Brides Partners Ltd
IR and PR
+44 (0) 20 7236 1177
Notes to Editors:
Rainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally and the only African producer.
The Company began production of rare earth concentrates in Q4 2017 and has a ten-year distribution and offtake agreement with multinational ThyssenKrupp Materials Trading secured for the sale of at least 5,000tpa of concentrate produced.
The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.
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Rainbow Rare Earths (LON:RBW) CEO George Bennett caught up with Proactive London's Andrew Scott at Mines and Money 2019.
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