Rainbow Rare Earths discuss progress and continued flowsheet optimisation at Phalaborwa Project

Rainbow Rare Earths (LON:RBW) is focused on the development of the Phalaborwa Rare Earths Project in South Africa and the earlier stage Uberaba Project in Brazil. The Phalaborwa Preliminary Economic Assessment has confirmed strong base line economics for the project, which has a base case NPV10 of US$627 million, an average EBITDA operating margin of 75% with a payback period of less than two years. In this interview with Chief Executive Officer, George Bennett and senior metallurgist Roux Wildenboer, investors will learn: - What progress has been made at Phalaborwa that is paving the way for the first commercial scale recovery of rare earths from the project - How the flowsheet has been optimised since the Preliminary Economic Assessment, including managing the key impurity of fluorine - How the updated flowsheet has resulted in the ability to use alternative construction materials for the plant with increased savings and lower maintenance - Where Rainbow is with the US pilot plant for separating oxides and why this is being relocated - What critical work streams will expedite the delivery of the Definitive Feasibility Study, due by end 2025 - How the US$10 million royalty agreement with Ecora Resources has avoided dilution at Topco level - Why Phalaborwa is categorised as a chemical processing project and not a mining project in South Africa - What macro trends are driving the rare earth market and pricing Bennett comments: “We are well positioned to be a multi-project rare earth company and we're very excited about these optimisations and we expect these to follow through into capital and operating cost savings in the project...probably the lowest cost producer of separated earths in the world”. Chief Executive Officer George Bennett and senior metallurgist Roux Wildenboer were interviewed by Sarah Lowther for focusIR.