Arafura Secures $144M for Nolan Rare Earth Project, Aiming to Meet 4% of Global Pr-Nd Demand

Published: May 13, 2026 18:19

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[SMM Rare Earth News Flash] Australia's Arafura announced that its Nolan rare earth project received A$200 million (approximately $144 million) in unsecured convertible notes from the National Reconstruction Fund, bringing total financing to $911 million. The project plans to produce 4,400 mt of Pr-Nd oxide and 470 mt of mixed medium-heavy rare earth oxide annually for at least 38 years, meeting 4% of global Pr-Nd demand. The company plans to make a final investment decision in July 2026 and has signed offtake agreements with Hyundai, Siemens, and others covering 66% of production.

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