Major Territory mining project secures tenure with mineral leases
The Northern Territory Government has today offered the grant of mineral leases to Australian company Arafura Rare Earths Pty Ltd, paving the way for its proposed Nolans rare earths mine and processing plant in Central Australia.
Located 135kms north of Alice Springs, the Nolans Project will produce Neodymium and Praseodymium (NdPr) which is in high demand for environmentally friendly, high tech applications such as magnets for electric vehicles, mobile phones, wind turbines and medical equipment. Nolans is one of the world’s largest and most intensively explored NdPr deposits of its kind with the potential to produce around 10% of global demand for NdPr magnet feed and plans to mine over 1 million tonnes of ore per year.
To read the full media release, go to the Northern Territory Government Newsroom.