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rare earth miner aims to catch a ride on electric vehicle boom

by:Newland     2019-11-06
A rare earth miner in Burundi said the company is expected to start producing concentrate by the end of this year and go to market in Aim in January.
Martin Eales, chief executive of Rainbow Rare Earth, said the company was about to complete the construction of its processing plant and complete its first sales by the end of December.
The RRE is counting on the growth of electric vehicles to meet demand for its minerals, which include nd and ase.
These elements are used for rare earth magnets, which Mr Ellis says are critical for new electric vehicles as well as motors in wind turbines.
\"Since our IPO, the price of our mineral basket has risen by 70pc (
Initial Public Offering
\"Said Mr. Ayers. “That has been. . .
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