Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) is making significant strides in the world of rare earth elements with the launch of an Economic Assessment for its exciting Uberaba project in Brazil. Collaborating closely with The Mosaic Company, Rainbow aims to assess the feasibility of recovering valuable rare earths from phosphogypsum generated at Mosaic’s phosphoric acid facility.
This project is not just another mining venture; it’s a strategic move in the ever-growing demand for rare earth elements, which are critical for numerous advanced technologies and the green energy transition. The Uberaba facility is projected to process an impressive 4.3 million tonnes of material per year, effectively doubling the scale of Rainbow’s existing Phalaborwa project in South Africa. With approximately 0.58% total rare earth oxides expected from the material, the project’s potential is magnified by substantial quantities of neodymium, praseodymium, and other essential elements like dysprosium and terbium.
One of the most noteworthy aspects of this project is its focus on capital efficiency and low operational costs. Rainbow Rare Earths anticipates that Uberaba will maintain a low capital intensity while providing a steady supply of critical resources. The assessment will consider an initial operational life of 15 years, with both companies sharing the projected assessment costs of around 0,000.
Rainbow’s CEO, George Bennett, expressed his enthusiasm for the project, commenting, “We are delighted to have made significant progress with the commencement of a formal EA of the Uberaba project, which reflects the strong collaboration between Rainbow and Mosaic under our MOU.” He highlighted that Uberaba promises to be a long-term economic opportunity, especially given its significant scale and the longevity of the phosphate deposits available.
As the world continues to pivot towards sustainable energy solutions, projects like Uberaba are crucial. They not only support technological innovation but also contribute positively to the local economies and broader environmental goals. The significance of rare earth elements cannot be overstated, with their applications ranging from electric vehicles to renewable energy technologies.
With such promising developments taking place, Rainbow Rare Earths is poised to play a vital role in the sustainable future of minerals, setting the stage for an exciting journey ahead.
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