Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) CEO George Bennett presented at the One2One Investor Forum about the company’s progress at its Phalaborwa project in South Africa and its new joint venture in Brazil. Bennett highlighted that Rainbow is not a traditional mining company but a chemical processing business extracting rare earths from phosphogypsum waste.
He explained that the project economics are robust, with a forecast EBITDA margin of around 75% and annual EBITDA of about $190 million. The company has estimated capital costs of $300 million, which Bennett said is low compared with conventional rare earth projects.
Rainbow expects to produce neodymium, praseodymium, dysprosium, and terbium, which are critical for permanent magnets used in electric vehicles, wind turbines, robotics, and defence applications. With global demand rising and supply dominated by China, the company believes it is well-positioned to help build independent supply chains.
Bennett also discussed Rainbow’s Brazil joint venture with Mosaic, which has the potential to deliver a long-life, higher-grade project. He said results from an economic assessment are expected within two months.
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