Assay TV is joined by Gavin Lockyer, managing director of Arafura Rare Earths (ASX: ARU), a company focused on advancing its Arafura’s Nolans Project, which is a rare earth ore to oxide mine and processing facility in the Northern Territory.
Gavin reminds viewers that the project is Australia’s first vertically integrated rare earths operation, where its single site mining and processing operations (including waste disposal) will provide a secure and traceable supply chain to meet domestic and international economic and security interests and the ESG needs of global customers.
Gavin also informs us that Arafura has recently signed a binding offtake agreement with South Korean based Hyundai Motor Company and Kia Corporation. Kia Corporation can make orders under the offtake agreement in its own right. This follows the signing of the non-binding Memorandum of Understanding with Hyundai earlier this year.
Primary ticker: ASX:ARU
Stage of development: Development
Commodity: NdPr Rare Earths
Project to promote: Nolans
Project location: Australia