Arafura Resources (ASX:ARU) has received a tax rebate of A$3.4 million under the Federal Government’s Research and Development Tax Incentive Scheme.
This was in relation to development of its 100%-owned Nolans Rare Earths Project in the Northern Territory.
Earlier this month, it reduced operating costs at the project to US$11.22 per kilogram of rare earth oxides making its magnet-feed rare earths production cost among world’s lowest.
Capital costs are estimated at A$1,437 million inclusive of a 15% contingency.
The capital and operating cost estimates are based on a production target of 20,000 tonnes per annum of REO equivalent from Measured and Indicated Mineral Resources at Nolans Bore.
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