Rainbow Rare Earths Limited Appointment of Non Executive Director (7563Y)
17 May 2021 - 4:00PM
UK Regulatory
TIDMRBW
RNS Number : 7563Y
Rainbow Rare Earths Limited
17 May 2021
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
17 May 2021
Appointment of Non-Executive Director Ambassador J. Peter
Pham
Rainbow Rare Earths Ltd is pleased to announce the appointment
of Ambassador J. Peter Pham as a Non-Executive Director of the
Company.
Ambassador Pham, Distinguished Fellow at the Atlantic Council in
Washington, served as US Special Envoy for the Great Lakes from
2018-2020. In this capacity, he was the lead US official
responsible for shaping and coordinating U.S. strategy on
cross-border security, political and economic issues in this
region, including Burundi where he led U.S. diplomatic efforts to
rebuild and restore effective relations with the current
government.
Ambassador Pham also served as U.S. Special Envoy for the Sahel
region of Africa from 2020-2021 with personal rank of Ambassador.
Earlier in his career, he served as Vice President for Research and
Regional Initiatives at the Atlantic Council and Director of its
Africa Centre. His previous academic assignments include: tenured
Associate Professor of Political Science, Justice Studies and
Africana Studies at James Madison University as well as Adjunct
Instructor on African Affairs at several U.S. Armed Forces
institutions.
Ambassador Pham holds a B.A. in economics from the University of
Chicago and a doctorate from the Gregorian University (Rome), as
well as postgraduate degrees in history, law, international
relations, and theology. He is the author of more than 300
articles, essays and reviews on African politics, security and
economic issues. Ambassador Pham is also Vice Chairman of the Board
of the Smithsonian National Museum of African Art in Washington, as
well as a Non-Executive Director of Africell Global Holdings.
Ambassador Pham is the recipient of many awards over the course
of his career, including National Order of Merit Awards from the
governments of Niger, Mali, Burkina Faso and Gabon. He speaks
French, Italian, Vietnamese and Spanish.
Adonis Pouroulis, Non-Executive Chairman, said "The Board of
Rainbow Rare Earths is very pleased to welcome Peter. He brings a
rich and detailed understanding of African political and economic
issues to the company, as well as insights and relationships across
Africa and Washington. As the architect of efforts to reform and
rebuild U.S. relations with Burundi, Peter's insights will be
invaluable."
The company confirms that there is no further information
required to be disclosed pursuant to paragraph 9.6.13 of the UK
Listing Rules.
**ENDS**
For further information, please contact:
Rainbow Rare George Bennett
Earths Ltd Company Pete Gardner +27 82 652 8526
SP Angel Corporate Ewan Leggat
Finance LLP Broker Charlie Bouverat +44 (0) 20 3470 0470
--------- ------------------- --------------------------------------
Flagstaff Strategic Tim Thompson +44 (0) 207 129 1474
and Investor Fergus Mellon rainbowrareearths@flagstaffcomms.com
Communications
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Notes to Editors:
Rainbow's strategy is to become a globally-significant producer
of rare earth metals. NdPr are vital components of the strongest
permanent magnets used for the motors and turbines driving the
green technology revolution. Analysts are predicting demand for
magnet rare earth oxides will grow substantially over the coming
years, driven by increasing adoption of green technology, pushing
the overall market for NdPr into deficit.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises approximately 35 million tonnes of gypsum tailings
stacked in unconsolidated dumps derived from historic phosphate
hard rock mining, containing rare earth elements with an initial
estimated average in situ grade of 0.45% TREO, based on previous
sampling campaigns, of which +/- 30% comprises high-value NdPr. The
rare earths are contained in chemical form in the gypsum dumps,
which is expected to deliver a higher-value rare earth carbonate,
with lower operating costs than a typical rare earth mineral
project.
The Company's Gakara Project in Burundi, which produces one of
the highest-grade concentrates in the world (typically 54% total
rare earths oxides ("TREO")) through ongoing trial mining
operations, is currently the only African producer of rare earths.
The Gakara basket is weighted heavily towards NdPr, which account
for over approximately 19.5% of the contained TREO and 85% of the
value of the concentrate.
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END
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