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Rinehart-backed Arafura gets $840m in taxpayer aid for NT project

Summary by Ground News
Arafura Resources is aiming to have its Nolans rare earths project in production before the end of 2025. The company aims to benefit from agreements between the South Korean and Australian governments to partner on critical minerals. The construction of the mine and processing facility would cost about $1.68 billion, Arafura has said. It is understood to be in advanced negotiations with other prospective offtake partners.

1 Articles

Australian Financial ReviewAustralian Financial Review
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Rinehart-backed Arafura gets $840m in taxpayer aid for NT project

An $840 million package of loans and grants is the Albanese government’s biggest deployment of taxpayer funds to the struggling rare earths industry.

·Sydney, Australia
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Australian Financial Review broke the news in Sydney, Australia on Wednesday, March 13, 2024.
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