Nolans granted mineral lease
PERTH (miningweekly.com) – The Northern Territory government has granted the mineral leases for the Nolans neodymium-praseodymium (NdPr), ASX-listed Arafura Resources reported on Wednesday.
The mineral leases, which will host the Nolans mine, process plant, waste storage facilities and accommodation village, are for an initial 25-year term.
“This significant milestone brings us one step closer to a final investment decision at a time when critical miners, such as rare earths, are in growing demand around the world,” said Arafura MD Gavin Lockyer.
The grant of the mineral leases follows a Native Title Agreement inked in June, and Arafura is currently preparing a mining management plan for the Department of Primary Industry and Resources, which would allow site-based activities to progress.
“We are grateful to have secured long-term development tenure for Nolans after many years of hard work by the Arafura team and support of our shareholders and stakeholders,” Lockyer said.
“Securing our development tenure is critical and is the catalyst to further advance our engagement with governments as well as potential offtake, debt and project funding partners.”
The A$1-billion Nolans project is expected to deliver 293 000 t/y of concentrate, containing 4 357 t/y NdPr oxide, 135 808 t/y of phosphoric acid and 13 343 t/y total rare earth oxide equivalent over a mine life of 33 years.
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