Arafura finds possible buyer for Nolans product
PERTH (miningweekly.com) – ASX-listed rare earths developer Arafura Resources has signed a memorandum of understanding (MoU) with magnet producer JingCi Material Science Co to supply neodymium-praseodymium (NdPr) from the Nolans project, in the Northern Territory.
The MoU envisaged the long-term supply of up to 900 t/y of NdPr, which would make up one-quarter of Nolan’s yearly output of 3 600 t. The MoU also contains provisions in which JingCi could assist Arafura in securing project financing.
“We are delighted to have signed the MoU with JingCi and look forward to working with them to negotiate a final offtake agreement,” said Arafura MD Gavin Lockyer.
“This is an important step in the company’s efforts to arrange financing for the Nolans project and is the result of a lot of hard work by our team.”
Lockyer said that Arafura is in the process of negotiating further offtake MoUs for the balance of the NdPr production, as well as for other rare earth products and phosphoric acid.
The Nolans 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 525 000 t/y for the first 11 years of operation.
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