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LSE-listed Rainbow Rare Earths hosted The President of the Republic of Burundi and other notable guests at an inauguration ceremony for its Gakara Rare Earth Project.

Guests of Rainbow Rare Earths attended a series of speeches and traditional Burundian cultural celebrations in the town of Mutambu, located close to the company’s first mining area at Gasagwe, where first production and sales of rare earth concentrate is targeted in Q4 2017.

Speeches were delivered by His Excellency Pierre Nkurunziza, President of the Republic of Burundi, Burundi’s Minister for Mines and Energy, Come Manirakiza, and Rainbow Rare Earths’ CEO, Martin Eales.

“The Gakara Project is currently the most advanced mining development project in Burundi and Rainbow Rare Earths was pleased to welcome so many honoured guests to our ceremony,” comments Rainbow Rare Earths CEO, Martin Eales.

“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,” he continues.

“The commencement of production at Gakara is timely as market prices for rare earths have strengthened significantly in the period since Rainbow Rare Earths’ IPO and these increases will directly impact our anticipated sales revenues.”

Feature image credit: Rainbow Rare Earths

(Bastanesite mineralised sample).