JOHANNESBURG (miningweekly.com) – Independent laboratory testing recently undertaken at the Gasagwe prospect at LSE-listed Rainbow Rare Earths’ Gakara project, in Burundi, has returned an average total rare earth oxide (TREO) grade of 62.17%.
This grade compares favourably with the average grade of 57% contained within mineralised veins across the Gakara project, as disclosed in January.
Gasagwe is expected to provide ore for the first two years of Gakara’s production, which is targeted to start in the fourth quarter of this year.
“This really is fantastic news. We always knew the Gakara project was capable of delivering grades far in excess of industry norms, but to get this level of average TREO content from our first mining area is a wonderful boost as a higher grade means we will achieve higher prices for each tonne of concentrate sold.
“Taking into account the continued strengthening of rare earth prices over recent months, the Gakara project continues to add to its excellent potential. We are now gearing up towards our first production and sales of high-grade concentrate through our multinational distribution partner Thyssenkrupp Raw Materials in the fourth quarter,” commented CEO Martin Eales.
Rainbow noted that site civils at its Kabezi processing plant were well under way, with the first containers of plant components dispatched from South Africa ahead of assembly in September and October.