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ARAFURA Resources has signed an agreement with Chinese permanent magnet producer Tianhe Magnetics for the long-term supply of neodymium-praseodymium oxide from the Nolans project in the Northern Territory.
Nolans has good prospects
Under the terms of the non-binding memorandum of understanding Arafura and Tianhe will negotiate a final offtake deal for the sale of up to 900 tonnes per annum of neodymium-praseodymium oxide.
The project has an initial life of 33-39 years and will be an economic boost for the region.
Arafura finishes pilot program
