Business
Retirement of Non Executive Director
Retirement of Non Executive Director.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 1178Z\n Rainbow Rare Earths Limited\n 20 January 2022\n \n \n \n \n \n 20 January 2022\n \n Rainbow Rare Earths Limited\n (\"Rainbow\" or \"the Company\")\n LSE: RBW\n \n \n Retirement of Non-Executive Director\n \n \n Rainbow Rare Earths, the rare earths company with assets in South Africa and Burundi, today announces that Robert Sinclair, a Non-Executive Director who has been on the Board of Rainbow since the incorporation of the Company in 2011, will retire with immediate affect due to health reasons.\n \n \n Rainbow Rare Earths Chairman, Adonis Pouroulis, commented:\n \"I would like to thank Robert for the considerable contribution he has made to Rainbow during his years of service. Robert has added a considerable amount of value to the Board since we founded the Company in 2011. On behalf of the Rainbow team, we wish him full recovery and good health and all the best for his future endeavours.\"\n **ENDS**\n \n For further information, please contact:\n \n \n \n \n \n Rainbow Rare Earths Ltd \n \n \n \n \n Company\n \n \n \n \n George Bennett \n \n \n Pete Gardner \n \n \n \n \n +27 82 652 8526 \n \n \n \n \n \n \n \n \n \n SP Angel Corporate Finance LLP\n \n \n \n \n Broker\n \n \n \n \n Ewan Leggat\n \n \n Charlie Bouverat\n \n \n \n \n +44 (0) 20 3470 0470\n \n \n \n \n \n \n Flagstaff Strategic and Investor Communications\n \n \n \n \n \n \n \n \n \n \n \n Tim Thompson\n \n \n Fergus Mellon\n \n \n \n \n +44 (0) 207 129 1474\n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n Notes to Editors: \n \n \n Rainbow Rare Earth's strategy is to become a globally significant producer of rare earth metals. Nd/Pr are vital components of the strongest permanent magnets used for the motors and turbines driving the green technology revolution. Analysts are predicting demand for magnet rare earth oxides will grow substantially over the coming years, driven by accelerating the adoption of green technology, pushing the overall market for Nd/Pr into deficit.\n \n \n \n \n \n The Phalaborwa Rare Earths Project, located in South Africa, comprises an Inferred Mineral Resource Estimate of 38.3Mt at 0.43% total rare earths oxides (\"TREO\") contained within gypsum tailings stacked in unconsolidated dumps deriv...