AFR, 11/04, Rare earths group Arafura signs Siemens offtake
Tom Richardson
Northern Territory-based rare earths hopeful Arafura has signed an offtake agreement to supply neodymium and praseodymium (NdPr) to European industrials group Siemens for up to five years.
Arafura has big ambitions to transform its Nolans Project into Australia’s first vertically integrated rare earths project that includes an oxide mine and processing facility to rival ASX-listed giant Lynas Corp.
The company’s valuation is just higher than $1 billion ahead of today’s market open.
Ann: Trading Halt, page-134
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