Arafura Powers High-end Rare Earth Mining

Arafura Resources is developing the Nolans project in the Northern Territory of Australia. Nolans is expected to supply products in 2025, after completion in financing, project construction and shakedown tests, the company said. With its recent financing reaching more than $140 million, the company is well-funded to rapidly develop its rare earths project, which is expected to produce 4,440 mt of neodymium oxide per year. Nolans claims a resource of 56 million mt containing an average of 2.6% rare earth oxides and 11% phosphate. A key component of the project will be downstream processing, with Arafura expressing its intention to build a beneficiation, extraction and separation plant.

The fastest growing downstream market for neodymium oxide is NdFeB magnets. Arafura has already signed offtake agreements to supply NdPr oxide to major automakers Hyundai and Kia, as well as US giant General Electric, for the production of wind turbines.