PRESS RELEASE: Guests attended a series of speeches and traditional Burundian cultural celebrations in the town of Mutambu, located close to Rainbow's first mining area at Gasagwe, where first production and sales of rare earth concentrate is targeted in the December quarter.
Martin Eales, CEO of Rainbow, commented: "The Gakara project is currently the most advanced mining development project in Burundi. We value highly all of the support that we have received from the government of Burundi and the local population.
"Our mining activity at Gasagwe continues to make great progress in readiness for the commissioning of our processing plant and first sales of rare earth concentrate as planned in Q4 this year. The commencement of production at Gakara is timely as market prices for rare earths have strengthened significantly in the period since Rainbow's IPO and these increases will directly impact our anticipated sales revenues."