Rainbow Rare Earths completes initial due diligence of Phalaborwa Project

Rainbow Rare Earths has completed an initial due diligence of the Phalaborwa rare earths project in South Africa.

Rainbow Rare Earths and Bosveld Phosphates in November entered into a co-development agreement for the Phalaborwa project, which holds about 35-million tonnes of gypsum resulting from historic phosphate hard rock mining, containing rare earth elements (REEs). The partners intend to jointly develop and process REEs from the gypsum contained in two stacks at the project site.

Initial grab sample assays from the about 35-million-tonne gypsum stacks indicate that they hold about 210,000t of contained total rare earth oxides (TREOs), with neodymium (Nd) and praseodymium (Pr) – together NdPr – anticipated to constitute about 30% of the TREO basket.

Rainbow Rare Earths has paid Bosveld Phosphates an initial $250,000, with two further payments of $250,000 each to be paid over the next 12 months.

.Asian Metal Copyright Rainbow Rare Earths has paid Bosveld Phosphates an initial $250,000, with two further payments of $250,000 each to be paid over the next 12 monthsAsian Metal Copyright