Rainbow Rare Earths strikes deal to take 100% ownership of Phalaborwa Project

Rainbow Rare Earths Limited is a Guernsey-based mining company. The Company is engaged in the development of rare earth mineral projects in South Africa and Burundi. Its projects include Phalaborwa Project and Gakara Project. The Phalaborwa Project is a gypsum stack re-treatment project for the recovery of rare earths located in South Africa. The Phalaborwa Rare Earths Project has an inferred mineral resource estimate of 30.4 metric tons (Mt) at 0.44% TREO contained within phosphogypsum in two unconsolidated stacks derived from historic phosphate hard rock mining. The Gakara Rare Earth Project is located in Western Burundi, approximately 20 kilometers (km) south-southeast of Bujumbura, covering a combined area of approximately 135 square kilometers (km2). The mining permit covers an area of over 39 km2. It hosts various veins consisting of the minerals bastnaesite and/or monazite. Its subsidiaries include Rainbow Mining Burundi, Rainbow International Resources Ltd. and others.