RBW Rainbow Rare Earths Limited

TIDMRBW

RNS Number : 4894B

Rainbow Rare Earths Limited

31 January 2020

31 January 2020

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

(LSE: RBW)

Export of concentrate

Rainbow Rare Earths Ltd, the Rare Earth Element ("REE") mining company, is pleased to announce that it has exported a further 75 tonnes of concentrate grading at approximately 53% Total Rare Earth Oxides ("TREO"), of which 19.5% is Neodymium and Praseodymium ("NdPr").

As with previous shipments, this concentrate is being sold through its offtake partner thyssenkrupp Materials Trading GmbH.

Rainbow CEO George Bennett commented: "We are pleased that we are able to continue to produce high grade concentrate from our trial mining operations at Gakara. We have recently been trialling a more mechanised extraction of ore at lower grades, and the fact that we are still able to produce high-grade concentrate through our pilot plant underlines the benign mineralogy of our deposit, and bodes well for the design of a much larger bulk mining operation, which is well underway. "

George will be attending the Arlington Pre-daba from 31 January - 2 February, and the 121 Mining Investment Cape Town on 3 and 4 February, together with Rainbow's Chairman Adonis Pouroulis.

**ENDS**

For further information, please contact

 
                                                                 +27 82 652 8526 
 Rainbow Rare Earths                        George Bennett        +44 (0) 20 3910 
  Ltd                       Company          Jim Wynn             4551 
 SP Angel Corporate                         Ewan Leggat          +44 (0) 20 3470 
  Finance LLP               Joint Broker     Charlie Bouverat     0470 
                           --------------  -------------------  ----------------- 
                                            Andy Thacker         +44 (0) 20 3657 
 Turner Pope Investments    Joint Broker     Zoe Alexander        0050 
                           --------------  -------------------  ----------------- 
 

Notes to Editors:

Rainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally and the only African producer.

The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DRLURSNRRNUAOAR

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