Ironically the low NdPr price is putting ARU in an extremely strong position.
It will be alive soon as the 3rd ex China large global NdPr rare earth supplier (de-risked by $850M in Australian Federal Govt backing + capital investment by Hancock + cornerstone offtaker Hyundai).
Most other potential projects are dead at such an NdPr price - this will extend the supply gap by years in the future (and China knows this).
Meanwhile ARU look to expand in a phase 2 given the supply gap this will exacerbate. This is no coincidence. Consolidation with bigger players (LYC, MP, ARU, ILU) and less other players coming online as they are unviable.
Arafura Rare Earths Ltd, page-553
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