Uberaba

Early-stage opportunity to replicate the Phalaborwa secondary-source model at larger scale on phosphogypsum stacks at Mosaic's phosphoric-acid production site in Minas Gerais, Brazil. Pursued under a Memorandum of Understanding with The Mosaic Company, with Rainbow and Mosaic having commenced an Economic Assessment (costs shared 50:50). Sample grades range 0.45%–0.79% TREO with an average of 0.52% TREO — some 32% higher than Phalaborwa — though the material has not yet been formally defined as a JORC-compliant rare-earth resource.