Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) CEO George Bennett speaks to Thomas Warner from Proactive after the magnet rare earth metals company announced the visit shortly before Christmas of a bipartisan US Congressional delegation to the Phalaborwa site following a $50 million investment by the Development Finance Corporation (DFC).
This investment is pivotal for Rainbow Rare Earths, enhancing its profile in government circles and setting a positive tone for 2024. Bennett discusses the ongoing progress of their Florida-based separation plant, which is producing rare earth oxides, and announced upcoming visits to monitor its operations.
He also teases potential positive news about the final separation results and a resource update for the South African project. Moreover, Bennett shared updates on the company's project in Brazil, emphasising its larger scale and longevity compared to the South African project, and hinted at forthcoming announcements on initial test results.
He says the company's definitive feasibility study, initiated last year, is on track for completion in the second half of 2024. Bennett's interview reflects Rainbow Rare Earths Ltd's commitment to expanding its global footprint and contributing to the rare earth sector's growth, reinforcing its position as a key player in this critical industry."