Rainbow is focused on generating significant value from the extraction of high grade, high quality Rare Earth Oxides (REOs) at its Gakara Project and in turn, being a significant contributor to Burundi’s developing mining sector. With in-situ grades in the range of 47-67% Total Rare Earth Oxide (TREO), Gakara is one of the world’s richest rare earth deposits.
Rainbow has a 10-year distribution and offtake agreement for exclusive sales of 5,000 tonnes of concentrate with thyssenkrupp Raw Materials, an active worldwide metals trader with offices in key markets including Europe, North America, South America and Asia.
With a focus on achieving sustainable, near-term production from the Gakara Project, the Company’s development strategy is to:
- Initiate trial mining phase at Gakara and achieve commercial production target of 5,000tpa of rare earth concentrate
- Demonstrate profitability of production from Gakara
- Increase production beyond 5,000tpa of rare earth concentrate
- Capture greater share of contained REE value through intermediate concentrate