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Full interview: Arafura Resources signs second MOU with one of China’s leading magnet producers for supply of rare earths

Arafura Resources Limited (ASX:ARU) managing director Gavin Lockyer updates Proactive on the signing of a second agreement with a Chinese magnet producer for the supply of rare earth products from Arafura’s 100%-owned Nolans project in the Northern Territory.

The non-binding MoU is with Baotou Tianhe Magnets Technology Co Ltd, one of China’s leading manufacturers of Neodymium Iron Boron permanent magnets.

This agreement with Tiahne Magnetics is intended to lead to the long-term sale of neodymium-praseodymium (NdPr) oxide from Nolans, with plans for the project to generate an average of 4,357 tonnes of NdPr oxide per annum.

Quick facts: Arafura Resources Ltd

Price: 0.08 AUD

Market: ASX
Market Cap: $84.39 m

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Full interview: Arafura Resources releases initial assays from new drilling...

Arafura Resources Limited (ASX:ARU) general manager exploration and business development Richard Brescianini updates Proactive on initial assays from a new drilling program at the Nolans Bore Neodymium-Praseodymium (NdPr) deposit in the Northern Territory. These results from the phase I...

on 18/12/19

2 min read