Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) CEO George Bennett joined Proactive's Stephen Gunnion with details of an interim report on the company's Phalaborwa rare earth project. Bennett detailed the findings of the newly released interim study, emphasising its confirmation of the project’s economic viability despite two years of inflation since the Preliminary Economic Assessment (PEA).
He highlighted that the projected capital expenditure (CapEx) remained below inflation-adjusted expectations due to significant technical optimisations. Operating costs were also reported as highly competitive, with costs for magnet rare earths just above $40 per kilogram. Bennett reiterated the project’s potential to be one of the highest-margin rare earths projects outside China, supported by independent validation from Argus Media.
Bennett also outlined plans to further optimise operational efficiency, including exploring renewable energy options such as solar power. Additionally, the interim study did not include revenue projections from byproducts like gypsum, leaving room for potential upside in the final Definitive Feasibility Study (DFS), expected next year.
He added that the company is preparing its pilot plant in South Africa for separation and purity testing, with results expected in early 2025. Bennett concluded by expressing confidence in the project's robust fundamentals and the team's progress.
