Phalaborwa remains the highest margin rare earth project in development today outside of China”
Rainbow Rare Earths' updated interim economic study confirms "the exceptional economics" of its rare earth element Phalaborwa project, its chief executive George Bennett said today .Rainbow said the new study showed that the project was "robust despite two years of inflation" of around 12% and "notably resilient to the rare earth price cycle".Phalaborwa's post-tax NPV10 dropped by 2.6%, from $627 million in October 2022 to $611m.
"This update reaffirms that Phalaborwa is extremely well positioned to contribute to the establishment of an independent and resilient supply chain for the REE critical to decarbonisation, defence and emerging technologies," said Bennett.Rainbow's roadBennett told Mining Magazine today that Rainbow is still looking to begin production at Phalaborwa in 2027.Next year, Rainbow plans to define its commercial flow sheet and finalise its separation flow sheet.
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