The rare earths recovery project which is underway in South Africa’s Limpopo province, is seen as one of the world’s most resilient rare earths projects at a time when these elements are in widespread demand in permanent magnets to help the world go green. Two months ago, even when the prices of the two key permanent magnet rare earth elements (REEs) – neodymium and praseodymium – were at $47/kg to $48/kg, Rainbow would have been profitable had it been in production.
