Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) CEO George Bennett talked with Proactive's Stephen Gunnion about a major milestone in the company's development of the Phalaborwa rare earths project in South Africa.

Bennett outlined how Rainbow’s decision to switch from ion chromatography to solvent extraction (SX) as the separation method for rare earth elements significantly reduces risk. He said, “This is a significant de-risking step for Rainbow because now we're using tried, proven and tested technology.” The company engaged ANSTO, the Australian Nuclear Science and Technology Organisation, to confirm the viability of its solvent extraction circuits, which are expected to achieve the necessary 99.5% purity levels for both NdPr and the SEG+ groups.

Bennett also discussed the implications of soaring yttrium prices, which have risen dramatically from $6/kg to over $220/kg in some contracts. He said Rainbow has now attracted interest from one of the largest aerospace and jet engine manufacturers globally for yttrium offtake. According to Bennett, the SEG+ group could generate approximately $160 million in revenue at 70% payability, compared to previous estimates of $80 million, marking a significant boost to EBITDA.

Bennett concluded by confirming that key technical milestones have been achieved, enabling a more defined DFS timeline targeting mid-2026.

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