Arafura Resources Limited (AU:ARU) has released an update.
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Arafura Rare Earths Limited has successfully secured major debt funding for its Nolans Project, with a debt package totaling over US$1 billion that includes substantial support from Australian and international export credit agencies and commercial lenders. This financing milestone propels the company towards a final investment decision for the project, which aims to establish one of Australia’s first ore-to-oxide rare earths processing facilities. The move is strategically significant to diversify the global NdPr supply chain, essential for technologies like electric vehicles and wind turbines.
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