Rainbow Rare Earths Advances Phalaborwa Processing With Neo as $916 Million Brazil Opportunity Takes Shape

Highlights

• Rainbow Rare Earths has finalized 75% of Phalaborwa's processing flowsheet, with Neo Performance Materials testing the final separation stage in Estonia using solvent extraction technology.
• Uberaba project in Brazil shows preliminary economics of a $916 million after-tax NPV and 45% IRR, with The Mosaic Company as development partner.
• Rainbow raised $14.7 million in April 2026 and held $12.9 million cash in June, but additional financing will be required in 2027 to advance projects.
• Proposed Neo offtake covers 40% of NdPr oxide and 65% of SEG+ carbonate production, though binding agreements remain outstanding.
• Phalaborwa prefeasibility study is targeted for Q4 2026, with a definitive feasibility study planned for H1 2027.