The project has an initial life of 33-39 years and will be an economic boost for the region.
The leases will be valid for 25 years, with multiple renewal periods possible under the agreement.
Arafura relatively unscathed by COVID-19.
Nolans ore reserves increased 54% to 29.5 million tonnes.
Arafura makes progress on Nolans.
Proves the company can produce the type or heavy rare earths potential customers want.
Arafura hands Nolans design contract to KBR and Wave International.
Arafura gets R&D refund from the ATO for Nolans.
More drilling at Nolans.
With a mine life of 23 years Nolans is expected to produce 4357t of NdPr oxide per year.
The first product shipment from Nolans is pencilled in for 2022's December quarter.
Nolans tipped to be a technically strong and cost-competitive project with a long life.