Arafura Rare Earths Limited

Arafura Rare Earths Limited is an Australian, ASX-listed company (ASX:ARU) focused on the responsible future production of radionuclide-free rare earths elements Neodymium and Praseodymium (NdPr) and SEG/Heavy Rare Earths from its Nolans Project in the Northern Territory. NdPr is essential to enabling the energy transition, the production of personal devices, medical applications and advanced military systems. These strategic assets are reshaping global order as the world races to establish rare earth independence. With demand for NdPr anticipated to more than double by 2032, Nolans is the most advanced fully integrated, ore-to-oxide rare earths project globally, ready to commence construction. The Nolans project sits on a very large ore body, supporting a mine life of 38 years. Phase 1 of the project will produce 4,400 tonnes of NdPr oxide, approximately 573 tonnes of a SEG /HRE product and 144,000 tonnes of high-grade phosphoric acid. In addition to being an Australian-domiciled project benefitting from leading ESG credentials, Nolans is forecast by CRU to be a low-cost operation in the first quartile of the global cost curve, underpinning attractive economics and the ability to withstand market volatility. The project is strategically located within proximity to critical infrastructure including rail and highways with direct access to deep water port, gas pipelines, airports, and water. Funding for the project is significantly advanced with more than US$1bn of debt secured and a further ~US$619m in equity secured. The equity comprises US$100m conditionally approved equity investment from EFA, A$200m convertible note from National Reconstruction fund and A$505m in public placements. The company is finalising the remaining cornerstone equity investments including German Raw Materials Fund and equity linked to strategic offtake partners which, once finalised, will support a final investment decision. As we look to the future, we are proud of the role we will play as a leading, responsible global provider of rare earths.