Arafura Rare Earths eyes Australia's first ore-to-oxide mine at Nolans
2026-06-16 11:47:01 [Print]
Backed by a recent A$350 million ($246 million) investment, Arafura Rare Earths is aiming to begin construction in September at its Nolans project in Australia's Northern Territory, which would become the country's first vertically integrated rare earths complex.
The company has signed annual off-take agreements for 500 tonnes per year with Australia's Critical Mineral Strategic Reserve (CMSR) and metals supplier Traxys North America.
If production milestones are achieved, Nolans could become the first rare earths mine in Australia where ore is mined, processed, and separated on site---marking a significant step toward a domestic mine-to-oxide supply chain.
Expected to start production in 2029, Nolans has a post-tax net present value of $1.73 billion and an internal rate of return of 17.2%, according to Arafura's updated project economics from July 2024, released as part of its debt financing package. Over a 38-year operating life, the mine is expected to produce 4,440 tonnes of neodymium-praseodymium (NdPr) oxide annually, along with heavy rare earths and phosphoric acid. Its output would represent approximately 4% of global NdPr supply.
The company has signed annual off-take agreements for 500 tonnes per year with Australia's Critical Mineral Strategic Reserve (CMSR) and metals supplier Traxys North America.
If production milestones are achieved, Nolans could become the first rare earths mine in Australia where ore is mined, processed, and separated on site---marking a significant step toward a domestic mine-to-oxide supply chain.
Expected to start production in 2029, Nolans has a post-tax net present value of $1.73 billion and an internal rate of return of 17.2%, according to Arafura's updated project economics from July 2024, released as part of its debt financing package. Over a 38-year operating life, the mine is expected to produce 4,440 tonnes of neodymium-praseodymium (NdPr) oxide annually, along with heavy rare earths and phosphoric acid. Its output would represent approximately 4% of global NdPr supply.
