Rainbow Rare Earths (AIM: RBW)
Has entered into a Master Agreement with OCP S.A. , the Moroccan world leading producer of phosphate products, and Mohammed VI Polytechnic University a Moroccan university with a strong focus on science, technology and innovation, to further investigate and develop the optimal technique for the extraction of rare earth elements from phosphogypsum.
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| Rainbow Rare Earths | LSE: RBW |
| Stage | Exploration, development |
| Metals | Rare Earth Elements |
| Market cap | £59 m @ 11.26p |
| Location | South Africa, Morocco, Burundi |
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Rainbow Rare Earths – Phalaborwa Gypsum stacks at Phalaborwa.
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Rainbow enters into Rare Earths Extraction Master Agreement
Rainbow Rare Earths (AIM: RBW) (”Rainbow”) announces that it has entered into a Master Agreement (“Agreement”) with OCP S.A. (“OCP”), the Moroccan world leading producer of phosphate products, and Mohammed VI Polytechnic University (“UM6P”), a Moroccan university with a strong focus on science, technology and innovation, (together, the “Parties”) to further investigate and develop the optimal technique for the extraction of rare earth elements from phosphogypsum.
Phosphogypsum contains rare earths as a by-product of phosphoric acid production. OCP together with the innovative research carried out by UM6P, have built up significant IP assets, know-how and expertise in the field of phosphogypsum processing.
This provides a synergistic opportunity for joint development with Rainbow, given Rainbow’s expertise and intellectual property on rare earths extraction and processing gained from work carried out to date at Phalaborwa completed with the separation technolog licensed from K-Technologies, Inc. (“K-Tech”) , the process technologies company based in Florida, USA. OCP and UM6P will contribute with their respective expertise, including adapted complementary separation technologies.
The Parties intend to develop the optimal route for the extraction of rare earths from phosphogypsum, and the subsequent processing of these rare earths into separated elements. The Parties intend to work together on the development of pilot and industrial-scale extraction of rare earths from phosphogypsum.
Rainbow Rare Earths CEO, George Bennett, commented:
“We are delighted to enter this Agreement with such innovative partners and believe their significant knowledge of phosphogypsum processing fits well with our own technical expertise in rare earths processing.
“Recognising the enormous potential of phosphogypsum as a valuable source of rare earths, our team is focused on securing opportunities for both collaboration and expertise sharing, as well as gaining access to new supply as shown by our recently announced agreement with a diversified chemicals group in South Africa.
“The successful global transition to clean energy is reliant on a considerable increase in supply of critical materials such as NdPr, required in permanent magnet technology, and we are therefore continually exploring the best way of producing rare earths responsibly from secondary sources, which removes significant time, risk and cost from the overall project timeline.”
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To read the full news release, please click HERE
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