Neo Performance Materials will serve as the technology partner for Rainbow Rare Earths' Phalaborwa project in South Africa. The memorandum of understanding covers the final separation stage of the project.
Neo will provide technical support for the solvent extraction circuit. This partnership enables Rainbow to finalize its pre-feasibility study.
Neo secures the right to purchase 40% of annual separated Neodymium and Praseodymium (NdPr) oxide production. The agreement also grants Neo 65% of the mixed heavy rare earth carbonate output.
Test work is currently underway at Neo’s facilities in Estonia.