Department of Industry, Science and Resources
Correspondence With Minister King And Arafura Rare Earths Limited Related To Nolan’s Project (nt).
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Arafura Rare Earths Limited's CEO wrote to Minister Madeleine King in December 2024 seeking government support for downstream manufacturing at the Nolans rare earths project in the Northern Territory. The correspondence characterizes Nolans as Australia's first facility to produce Neodymium and Praseodymium oxides at a single site using a novel processing method, positioning it as demonstrating the government's Future Made in Australia policy. The company identifies project financing as the critical challenge, noting investors require higher returns due to the first-of-a-kind technology risk. The letter indicates concern about Australia's declining critical minerals sector performance and argues the Safeguard Mechanism impacts Nolans' financial viability, though the specific details regarding this mechanism are incomplete in the disclosed excerpt. This represents a direct stakeholder submission requesting tailored government assistance to progress the project toward final investment decision.
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