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Rare earths have become a geopolitical point of friction between the superpowers China and the United States. China controls global supply and the United States is under pressure to create an independent supply chain as rapidly as possible. George Bennett, CEO at Rainbow Rare Earths (LSE:RBW), saw a supply pinch-point coming several years ago, and he and his South-African-based team have been working to develop commercial production of rare earths from phosphate gypsum feedstock since then. In this interview with Donald Leggatt Head of IR Media at Ticker TV, George Bennett explains in detail (see below) why 2025 has been a significant year for the Rainbow Rare Earths business. 1. US Department of Defence has established a price floor of $110 per kg for NdPr by striking a 10 year deal with MP Materials in the States 2. Chinese NdPr price has risen to $95/98 a kg, close that offered by the DoD 3. Australia and the EU have also agreed to the principle of a price floor 4. Expect a Mineral Resource Estimate for Uberaba early next year 5. The final piloting of the SX circuit at ANSTA will take 4 weeks 6. Phalaborwa Definitive Feasibility Study due middle of 2026 7. Phalaborwa Construction – 2027 8. Phalaborwa Production – 2028
