At the moment Aru is stuck with Chinese oxide prices, which is preventing any competition from getting of the ground. I can't see Aru getting very far, at current low prices, without government support.
Currently, and by far the largest debt finance offer Aru has ( AU$350 ) is from the Aus government. However, recently the government has offered to double it's original offer to Australian critical minerals miners. More than likely, we will get at least double ( more would be better ) what got in the original offer.
Here is an older article from Dec 21, 2023... I particularly liked the last line...
https://oilprice.com/Energy/Energy-General/Beijing-Clamps-Down-on-Critical-Rare-Earth-Processing-Technology.html
"The primary issue for the West is that it has a grand re-shoring of supply chain vision but is far from becoming a reality."
Arafura Rare Earths Ltd, page-37
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