The Australian government’s National Reconstruction Fund Corporation (NRFC) has announced a $200 million (US$123 million) investment in Arafura Rare Earths to advance the critical minerals sector.
The funding will help develop the Nolans Project, a rare earth mine and processing facility located 135 kilometres north of Alice Springs.
The development is set to create 600 jobs during the construction phase and 350 ongoing roles once mining and refining operations are underway.
Additionally, the project aims to provide substantial opportunities for First Nations communities in the Northern Territory through employment, training, and business partnerships.
“Our $15 billion National Reconstruction Fund is building Australia’s future. In just the last eight weeks, the NRF has announced more than $360 million in deals, with more to come,” Industry and Science Minister Ed Husic stated….
1 month ago