Arafura Rare Earths plans A$350 million share placement
Arafura Rare Earths plans to raise A$350 million to fund its Nolans project in the Northern Territory. The placement is backed by Gina Rinehart's Hancock Prospecting, which committed A$85 million to increase its stake. The move follows recent project approval to diversify rare earth supply.
Xurve View
Xurve View
Arafura Rare Earths will raise A$350 million ($249.83 million) through a share placement to fund its Nolans project in Australia. The capital injection follows the board's approval of the $1.6 billion development, positioned to become the country's third-largest rare earths operation by 2030. For investors, the deal secures the final equity component for a project critical to diversifying global magnet metal supply chains.
