Rainbow agrees Phalaborwa offtake framework with Neo Performance
Rainbow Rare Earths has signed a memorandum of understanding with Neo Performance Materials covering technical support, design input and offtake for its Phalaborwa project in South Africa. Neo will provide technical support and design input for the final solvent extraction separation circuit, which is expected to produce separated neodymium-praseodymium oxide and a mixed heavy rare earth carbonate. Under the MoU, Neo will receive rights to 40% of annual separated neodymium-praseodymium oxide output and 65% of annual mixed SEG+ carbonate production, with pricing on arms-length commercial terms.
Why it matters: The agreement strengthens critical-minerals supply chains by securing rare earth separation and offtake arrangements outside China.