Rainbow Rare Earths Ltd said it has become a member of the European Raw Material Alliance (ERMA) – a group which aims to make Europe more resilient by diversifying supply chains, promoting innovation, creating jobs and attracting investment.
"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,” George Bennett, Rainbow chief executive, said.
“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."
Phalaborwa is a Rare Earths Project in South Africa.
ERMA works to ensure reliable, secure and sustainable access to critical and strategic raw materials, with a specific focus on the rare earth magnet chain.
By 2030, ERMA's activities will increase the production of raw and advanced materials.