PERTH (miningweekly.com) – ASX-listed Arafura Resources has signed an additional memorandum of understanding (MoU) for rare earths products from its Nolans neodymium-praseodymium (NdPr) project, in the Northern Territory.
The MoU allows for the long-term sale of NdPr oxide from the Nolans project, where Arafura was planning to produce an average of 4 357 t/y over the 23-year mine life.
The MoU with Chinese magnet manufacturer Baotou Tianhe Magnetics Technology provides a framework for the two companies to negotiate a final offtake agreement for the sale of up to 900 t/y of NdPr oxide.
The MoU also contemplates the two companies working together to develop further opportunities for long-term NdPr oxide or metal offtake with third party end users.