Arafura raises funds for Nolans study
PERTH (miningweekly.com) – Rare earths developer Arafura Resources will raise A$1.5-million through a share placement to institutional and sophisticated investors, to assist in funding the completion of a definitive feasibility study (DFS) at its Nolans project, in the Northern Territory
Some 13.6-million new shares will be placed at a price of 11c each under the company’s existing capacity, meaning shareholder approval will not be required.
“It is pleasing to see the recent increase in market understanding of the importance of neodymium-praseodymium (NdPr) and its looming supply shortages into existing and emerging technologies,” said Arafura MD and CEO Gavin Lockyer.
“For many years, the focus has been on battery metals; however, the two successful capital raisings Arafura has been able to conduct this year highlights the growing investor interest in these metals.”
Arafura in September this year reported that the mine life at its Nolans project could be extended beyond 30 years, with mine planning work undertaken ahead of the DFS establishing a larger mining inventory.
The study reported a mining inventory and strategic production schedules that could allow Arafura to produce 14 000 t/y of total rare-earth oxides, including 3 600 t/y of NdPr oxide, for a period of more than 30 years.
The project is expected to have a maximum mining rate of five-million tonnes a year for the majority of the mine life, with steady-state beneficiation plant feed rate estimated at a rate of 525 000 t/y for the first 11 years of operation.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...
VISIT SHOWROOM
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
