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Rainbow Rare Earths Plc

A beautiful friendship

At the recent dedication ceremony for the Ntare Rushashatsi State House, Burundi’s new presidential palace, President Pierre Nkurunziza dedicated the sumptuous new building to Ntare Rushatsi Cambarantama, the first king of Burundi, and lauded the king’s “contribution as father of the nation”.

But the king, who ruled from 1680 to 1709, was not the only one to be thanked. The new palace was built and financed by China, as part of its extensive cooperation with Burundi. At the inauguration ceremony, President Nkurunziza expressed pride in this “privileged and credible” partnership.

Economic ties between the two countries continue to strengthen. For example, China buys nearly 90% of Burundi’s rare-earth exports and uses those precious metals to manufacture mobile phones and many other electronic devices, among other goods.

Rainbow Rare Earths Ltd (LON:RBW) is a mining company focussed on production from, and expansion of, the high grade Gakara Rare Earth Project in Burundi, East Africa. With in-situ grades in the range of 47-67% Total Rare Earth Oxide (TREO), Gakara is one of the world’s richest rare earth deposits.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.