- Arafura Resources has announced after the successful $23.2 million entitlement offer it will start its development at the Nolans Project
- The project will become the next long-term supplier of neodymium and praseodymium (NdPr) oxide
- Project is expected to open in 2022
Arafura Resources has announced after the successful $23.2 million entitlement offer it will start its development at the Nolans Project.
The Nolans Project is located 135 kilometres north along Stuart Highway from Alice Springs in the Northern Territory.
The project will become the next long-term supplier of neodymium and praseodymium (NdPr) oxide and Arafura is hoping to open the project in early 2022.
Neodymium oxide is used to develop glass, sunglasses and lasers while praseodymium oxide can be used in sodium or gold to improve its chemical reaction.
Wave International provided Arafura with engineering support for the Nolans Definitive Feasibility Study (DFS) and will assist with delivery services for the execution readiness phase.
Some execution readiness activities include finalising potential contractors, preparation of major contract scopes of work and project policies and plans.
The company will work with NT Link to help provide accommodation. NT Link will help with accommodation and facilities for up to 650 people through the development of the project.
The Nolans Project Mine is expected to have 23 years of mine life and Arafura is planning to mine 7.6 million tonnes of ore and waste rock each year to produce 897,000 tonnes.
Arafura will work on potential savings through campaign mining operations and optimisation of the process plant layout which has been suggested in the DFS.
Arafura Resources have gained 2.35 per cent and is currently selling at 8.7¢.