The trend toward electric transportation is accelerating. Electric vehicles (EVs) are being released to the general public by a number of manufacturers who are looking to the future. These electric vehicles are now being imported by South Africa.
The Burundi Electric Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
A UK-based company called Rainbow Rate Earth Limited has broadened its geographic drilling programme in Gakara, Burundi to identify the regions that are abundant in rare earths, a mineral that is in great demand on the global market.
CEO of this company, expressed confidence that Burundi’s production of rare earths will rank among the continent’s largest commercial endeavours in an interview with the UK website proactiveinvestors.co.uk.
The production of electric vehicles in the Western World has sped up supply.
The drilling will advance our knowledge of the geology of Gakara’s active production zones and explore geophysical anomalies picked up by aerial reconnaissance.
When the electric vehicles run out of juice, they are recharged using a PowerCharge station or one of the public charging stations operated by ChargeNow. They don’t consume fuel the way the ones we are used to now do. The electric vehicles (EVs) can be powered by a household outlet or even solar panels that are affixed to the vehicle and collect solar energy.
Gakara is the sole producing rare earths mine in Africa and one of the highest quality rare earth element mining operations in the world, with an estimated in situ grade of 47–67% Total Rare Earth Oxide (‘TREO’).
The ramp-up of the production has gone as planned, with a run rate of 5,000 tonnes per year being the end goal.
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