Rainbow Rare Earths Limited focuses on the exploration and production of rare earth elements, specifically Neodymium (Nd) and Praseodymium (Pr). These elements are essential for manufacturing high-performance permanent magnets used in electric motors and turbines, particularly within the green technology sector. The company operates primarily in Africa, with its main project being the Phalaborwa Rare Earths Project in South Africa, which is in the development stage. Rainbow Rare Earths generates revenue through the sale of these critical materials to various industries, including renewable energy and electronics.