Arafura Secures $159M Investment for Nolans Rare Earth Project, Aims 4% Global Supply by 2029

Published: Apr 8, 2026 14:53

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[SMM Rare Earth News Flash] Australian company Arafura Rare Earths announced on April 1 that it had signed binding equity subscription agreements with Germany's KfW and Australia's Export Finance Australia (EFA). The two institutions will jointly invest approximately A$230 million (approximately $159 million) to develop the Nolans rare earth project in the Northern Territory. The project plans to supply 4,440 mt of Pr-Nd oxide per year from H2 2029, accounting for approximately 4% of global supply. Arafura has signed an offtake agreement with Siemens Gamesa and is actively seeking European offtake partners to secure an additional 500 mt/year of Pr-Nd oxide capacity.

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