Australian federal government commits AUD840m for first combined rare earths mine and refinery in Northern Territory, operated by Arafura Rare Earths.
The Australian federal government has pledged AUD840 million to construct the country's first combined rare earths mine and refinery in the Northern Territory, operated by local mineral exploration company Arafura Rare Earths. The project aims to position Australia as a global leader in the production of rare earths and critical minerals using ethical and sustainable practices, and is expected to create over 300 jobs. These rare earths are essential components for manufacturing personal electronics, robotics, and powerful magnets used in electric vehicles and wind turbines.
March 13, 2024
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