en.Wedoany.com Reported - Australian rare earth exploration company Arafura Rare Earths (ASX:ARU) announced on June 1 that its Nolans project, located in the Northern Territory of Australia, has been officially recognized as the first "major project" under the Territory Coordinator Act 2025. Situated 135 kilometers north of Alice Springs, the project encompasses an open-pit mine, a rare earth processing plant, and related infrastructure.
This designation marks an acceleration phase for the project's construction. The Territory Coordinator Act 2025, which came into effect on March 31, 2025, aims to expedite the approval process for projects of significant economic importance to the Northern Territory by establishing the position of Territory Coordinator. With the "major project" status, the Nolans project can benefit from streamlined statutory procedures, including shortened permitting and approval timelines, while also receiving support for job creation and workforce development. Tania Constable, CEO of the Association of Mining and Exploration Companies, commented that Nolans is one of the few projects globally capable of producing neodymium-praseodymium oxide outside of China.
Arafura Rare Earths is an Australian resource company focused on rare earth mineral exploration and development, dedicated to advancing the mining and processing facilities of the Nolans project. The company made a final investment decision on the Nolans project on May 21, 2026, and plans to commence construction in September 2026. The total project investment is $1.6 billion, including financial support from export credit agencies in the United States, Canada, Germany, and South Korea. Additionally, following the final investment decision, Arafura launched a A$350 million share placement and secured over A$1 billion in Australian government funding for the project.
The Nolans project is designed to produce 4,440 tonnes of neodymium-praseodymium oxide and 470 tonnes of mixed medium and heavy rare earth oxides annually, along with a planned annual output of 144,000 tonnes of fertilizer-grade phosphate by-products. The project's ore reserves total 29.5 million tonnes, with an average total rare earth oxide grade of 2.9%. An independent economic analysis conducted by ACIL Allen Consulting in 2024 estimated that over an initial 38-year mine life, the project is expected to contribute approximately A$25.2 billion to the Northern Territory's gross product. The project is projected to create over 600 jobs during the construction phase and 350 permanent positions during long-term operations. Arafura CEO Darryl Cuzzubbo stated that the project will help the company achieve 95% localization of the rare earth value chain, positioning Australia as a global alternative supply source for rare earth elements essential to the energy transition and modern technologies.
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