Tag: Arafura Resources

The Australian Government today launched its 2022 Critical Minerals Strategy today as part of a package of measures to develop the sector, while the nation’s resources and energy exports is expected to reach a record high of $379b this financial year. The updated Strategy builds upon the first one published in 2019, which aims to put Australia at the centre of meeting the growing demand for critical minerals by 2030, and is part of the 2022-23 Federal Budget. Prime Minister Scott Morrison said Australia’s resources companies were leading the world in developing new critical minerals markets. “As the global economy changes, there are exciting new growth opportunities emerging in areas such as rare earths and critical minerals that ultimately mean…

Arafura Resources Limited (ASX:ARU) has been awarded grant funding of A$30 million under the Federal Government’s Modern Manufacturing Initiative (MMI) which will contribute to the construction of an $90.8m rare earth separation plant at its Nolans Project in Australia’s Northern Territory. The A$1.3 billion  MMI forms part of the Resources Technology and Critical Minerals Processing Roadmap that aims to develop Australia as a regional resources technology and critical minerals processing hub within 10 years. The MMI continues to build on broad Australian, Territory and export partner government support for Nolans. The grant awarded to Arafura falls under the MMI’s Collaboration Stream, which provides funding to a small number of transformational projects that will create and facilitate collaborative ecosystems. Nolans, 135…

BY ELIZABETH FABRI NEODYMIUM and praseodymium – or NdPr for short – has been labelled one of the “biggest blind spots of today’s global commodity market”, but interest is beginning to pick up for rare earth elements with analysts forecasting strong demand to come out of China in the early 2020s. It’s in our mobile phones, the hard disc drive of our laptops and the NdFeB magnets in the electric vehicles soon to be hitting our roads – yet there is still a level of restraint within the investment community towards NdPr. To date, China has been the biggest producer of the rare earths material. But an emerging group of ASX-players were now getting attention, as the NdPr price increased…