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Australian rare earth developer Arafura Rare Earths (ASX:ARU) was the main attraction for forum readers through Wednesday after it signed a binding offtake term sheet with global trader Traxys North America for up to 500tpa of neodymium-praseodymium (NdPr) oxide from the Nolans rare earths project.
Traxys intends to seek to utilise the product for supply into the U.S. supply chain, including the potential supply into the EXIM-managed project vault. The deal is for five years, with a mutual option to extend it by two more.
The positive news saw ARU jump more than +9%, to 36cps.
Elsewhere, Anson Resources (ASX:ASN) is up more than +30% on a joint venture with South Korea’s POSCO and a lithium demonstration plant.
The boards of Anson and POSCO Holdings have given the green light for a binding agreement for the development of a direct lithium extraction (DLE) demonstration plant at the Green River lithium project.
POSCO will pay Anson a $7.2M facilitation fee and lead the project at its own expense, including the design, construction and operation of its proprietary DLE plant.
ASN was recently trading as high as 6.9cps.
Also trending is Core Lithium (ASX:CXO), after it hit a milestone with the award of a $274M underground mining contract to Develop Global for mining services at the BP33 location within the Finniss lithium project.
The contract is for three years, plus an option for a two-year extension with Develop’s experienced team set to support Core’s operations at Finniss.
CXO has been up +8.96% to lunchtime.
And finally, looking wider, the S&P/ASX 200 is again lower, dropping 15.6 points, to 8,655.10 and setting a 20-day low.
The bottom performers were Paladin (ASX:PDN) and CBA (ASX:CBA).
That’s Wednesday’s HotCopper Trends, I’m Colin Sandell-Hay — see you for close.
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