Rainbow Rare Earths (GB:RBW) has released an update.
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Rainbow Rare Earths has reported promising preliminary results for the year ending June 2024, highlighting the growing demand for rare earth permanent magnets driven by the global green energy transition. The company’s Phalaborwa project in South Africa is advancing towards commercial production, supported by significant investments and partnerships, positioning Rainbow as a strategic player in diversifying the rare earth supply chain. With the backing of the U.S. International Development Corporation, Rainbow aims to provide a low-cost, responsible supply of critical rare earths, essential for various advanced technologies.
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