Rainbow Rare Earths gets go ahead for Burundi-based mine
JOHANNESBURG (miningweekly.com) – Africa-focused Rainbow Rare Earths has been granted a mining licence for its high-grade Gakara rare earths project, in Burundi, by the country’s Ministry of Mines and Energy.
Terms for a mining convention had also been negotiated and approved by the government and, once the administration process was completed, Rainbow would be able to further progress its plans to start mining operations at the 39 km2 licence, which hosts a deposit with a high grade of 54.3% rare-earth oxides on average.
Rainbow MD Martin Eales said the company was pleased to have been awarded the mining licence. “This, along with the mining convention, has been completed in a very timely manner, which is indicative of the government’s strong encouragement of investment in Burundi. We look forward to progressing the project and moving towards production in the near term,” he added.
The mining licence was valid for an initial 25-year period and was renewable thereafter.
The mining convention addressed legal, fiscal and economic terms, as well as rights and obligations, which had been agreed by both parties. As stipulated in this convention and, in accordance with the Mining Code of Burundi, the State would hold a nondilutable 10% interest in the project.
Rainbow would also work within the parameters of the Mining Code and the convention with regard to employment, the community, the environment and improving infrastructure so as to deliver sustainable benefits for both company and country.
Once in production, Rainbow would be the sole industrial-scale mining operation in Burundi and would generate significant economic benefits, with exports of rare earths becoming a key contributor to the country’s gross domestic product.
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