Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) chief executive George Bennett tells Proactive it has reached a "milestone" with the preliminary economic assessment (PEA) for its Phalaborwa project in South Africa.
PEA shows it can remove rare earths from phosphogypsum residue stacks very commercially, said Bennett. Bennett notes that the capital required to get the project running is US$295mln, which is low for the volume of rare earths the company expects to produce, while opex forecasts place it as one of the lowest cost producers in the separated rare earth market.
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