Rainbow Rare Earths Commencement of Ore Mining and Operations Update

Rainbow, the rare earth element mining company, is pleased to announce an update on its Gakara Rare Earth Project (‘Gakara’) in Burundi, where first production and sales of rare earth concentrate are being targeted for Q4 2017. Gakara is one of the highest grade rare earth element mining projects globally, with an estimated in situ grade of 47-67% Total Rare Earth Oxide (‘TREO’).
Martin Eales, CEO of Rainbow, commented:

“I am pleased to report extremely positive news on all fronts, which sees the Company firmly on track to deliver its first shipment of concentrate in Q4 2017. The construction of the plant at Kabezi is progressing well, despite minor logistical difficulties, and we have commenced mining ore from the Gasagwe pit.
Meanwhile, the market for rare earths goes from strength to strength, and our basket price has nearly doubled since our listing on 30 January 2017.”

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