Arafura Resources (ASX: ARU) is an emerging rare earths producer. Arafura is currently developing its Nolans rare earths-phosphate-uranium project in Australia’s Northern Territory. The project is underpinned by a 30 million tonne resource that can sustain a 20-year mine life.
Arafura has expanded the scope of a Bankable Feasibility Study for the Nolans Project and extended the expected completion date of the Nolans Project Bankable Feasibility Study by nine to twelve months to simplify the Nolans Project flow sheet to focus predominately on production of rare earth products.
Arafura Resources rare earths project targets 2013 start
Ross Louthean, www.mineweb.com
To advance site feasibility and project optimisation studies Arafura Resources Ltd (ASX: ARU) has appointed technical project consultants, following a successful capital raising programme.
A mix of capital raisings and rights issues to shareholders, when completed, could raise a total of A$35.3 million (US$32.5 million).
Chief executive Steve Ward said the company expects to have a mine site optimisation study completed late in 2010.
Apart from the standard requirements for pit design, cut-off grade strategies and capital demands, this study would also take in blending criteria for various ore and mineral types, the processing path calibrations and product mix and specification.
The deposit is at Nolans Bore, 135 kilometres north of Alice Springs.
Arafura has a resource from the measured to inferred categories of 30.3 million tonnes that contains 850,000 tonnes of rare earths (REO) at a grade of 2.8% REO, 3.9 Mt of phosphate pentoxide grading 12.9% P205, and 13.3 M lbs of uranium grading 0.44 lb/t U308.
The company said the development blueprint takes in a rare earths processing plant. Test work has provided "significant progress" in the definition of the flow sheet required for engineering a plant that would recover rare earths, phosphate and uranium and a by-product of calcium chloride.
