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Rainbow Rare Earths Ltd - Guernsey-based mining company focused on South Africa and Burundi - Releases technical report on the processing flowsheet to extract rare earth elements for the Phalaborwa project in South Africa. Says a few key enhancements have been made, with the Phalaborwa preliminary economic assessment currently being finalised.
Rainbow says the PEA is expected to be finished at the end of September. The flowsheet is being developed in parallel with K-Technologies Inc, a chemical process development & applications company, representing a breakthrough in allowing for the economic extraction of rare earth elements from phosphogypsum.
Chief Executive Officer George Bennet says: ‘We are delighted to provide technical detail which emphasises the breakthrough that has been delivered by Rainbow, in conjunction with our partners K-Tech, in delivering a processing flowsheet to economically extract rare earth elements from phosphogypsum.’
Current stock price: 11.30 pence
12- month change: down 3.4%
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