Business
Interim Results for 6 Months to 31 December 2024
Interim Results for 6 Months to 31 December 2024.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n\n \n\n19 March 2025\nRainbow Rare Earths Limited\n(\"Rainbow\" or \"the Company\")\nLSE: RBW\n \nInterim Results for the six months ended 31 December 2024\nRainbow Rare Earths is pleased to announce its unaudited results for the six months ended 31 December 2024 (\"the Period\" or \"H1 FY 2025\").\nHighlights\n\n\n\n\n· The need to establish an independent and diversified supply chain for rare earth elements (\"REE\") has never been greater, as geopolitical tensions and trade hostilities escalate globally.\n· Rainbow is pioneering the recovery of REE from phosphogypsum, with the aim of unlocking a low-cost and responsible source of the magnet REE crucial to decarbonisation, defence and future-facing industries, such as robotics, next-generation computing and advanced air mobility.\n· Rainbow's flagship project, Phalaborwa in South Africa, is expected to be the highest margin REE project in development today outside of China, with its comparatively low operating cost giving the project resilience to the rare earth pricing cycle.\n· An Interim Study released in December updated the economics for Phalaborwa to a higher level of certainty based on the extensive pilot test work that has been carried out to date, and confirmed a project post tax NPV10 of US$611 million, a post tax IRR of 38% and a payback of less than two years.\n· Test work to define the separation flowsheet to process Phalaborwa's mixed rare earth feed into separated rare earth oxides (\"REO\") at a targeted 99.5% purity level is ongoing at Rainbow's laboratory at the Mintek facilities in Johannesburg, which allows this important work to be carried out in-house in a low-cost environment.\n· Further opportunities for operating and capital cost optimisation in the Phalaborwa leaching and recovery circuits are also being investigated by Rainbow's in-house technical team.\n· Phalaborwa has been recognised as a strategic and near-term source of critical REE by the U.S. Government, with a US$50 million funding commitment in place from the U.S. International Development Finance Corporation (\"DFC\") to be invested via strategic shareholder TechMet Limited (\"TechMet\").\n· Strong project validation also received via th...