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Rainbow Rare Earths Ltd - Guernsey-based mining company focused on South Africa and Burundi - Says it has become a member of European Raw Material Alliance. EMRA aims to ensure reliable, secure, and sustainable access to critical and strategic raw materials, with a focus on the rare earth magnet chain. It also aims to make Europe economically more resilient, by diversifying supply chains, promoting innovation, creating jobs, and attracting investment, Rainbow adds.
Chief Executive Officer George Bennett says: ‘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. 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.’
Current stock price: 11.78 pence
12-month change: down 7.7%
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