Rainbow Rare Earths ships first concentrate, becomes Africa’s only producer

Rainbow Rare Earths ships first concentrate, becomes Africa’s only producer

Product is now on the road to Mombasa, where it will be shipped out to customers secured under an offtake agreement with ThyssenKrupp

Rare earths are increasingly in demand for use in renewable energy projects and electric vehicles

Rainbow Rare Earths Limited (LON:RBW) has produced its first concentrate from the Gakara project in Burundi. A 25 tonne shipment is now on its way by road to Mombasa, as final commissioning of the plant at Gakara completes.

Gakara is one of the highest grade rare earth element mining projects globally, with an estimated in situ grade of between 47% and 67% Total Rare Earth Oxide (TREO).

WATCH: Rainbow Rare Earths confirms significant exploration potential at Gakara

Rainbow is targeting production of 5,000 tonnes per year by the end of 2018.

“Rainbow can now rightly claim to being the only producing rare earths mine in Africa, and the highest grade producer globally,” said chief executive Martin Eales.

READ: Rainbow Rare Earths on track to ship first concentrate by year-end

“We have successfully delivered on our stated strategy having developed the Gasagwe mine, constructed our processing plant to the point of final commissioning and now exported our first shipment of mineral concentrate all within 11 months of IPO. This is a proud moment for all involved in the company and we now look forward to growing our monthly production levels over the coming months targeting a 5,000tpa run rate by the end of 2018.”