Rainbow Rare Earths ( (GB:RBW) ) has provided an update.
Rainbow Rare Earths has announced its interim results for the six months ending December 2024, highlighting the strategic importance of its Phalaborwa project in South Africa. The project is expected to be the highest margin rare earth project outside China, benefiting from low operating costs and strong economic metrics, including a post-tax NPV of $611 million. The U.S. government has recognized Phalaborwa as a critical source of rare earth elements, providing a $50 million funding commitment. Despite current weak pricing in the rare earth market, Rainbow’s projects offer a resilient and ethical supply chain solution, positioning the company strongly amidst global geopolitical tensions and the push for decarbonization.
More about Rainbow Rare Earths
Rainbow Rare Earths is a leader in establishing an independent and ethical supply chain for rare earth elements, crucial for the green energy transition. The company focuses on recovering rare earth elements from phosphogypsum, a by-product of phosphoric acid production, which allows for quicker and lower-cost production compared to traditional mining. Their primary projects include Phalaborwa in South Africa and Uberaba in Brazil, targeting the recovery of key elements like neodymium and praseodymium used in high-performance magnets for electric vehicles and wind turbines.
YTD Price Performance: -21.14%
Average Trading Volume: 579,347
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £62.18M
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