logo-loader
viewArafura Resources Ltd

Arafura Resources Ltd lowers rare earth costs at Nolans

au_nt__350_573c129dc57f1.jpg

Arafura Resources Ltd (ASX:ARU) has been able to effect a reduction in projected operating costs in an independent engineering analysis of the Nolans Rare Earth Project in the Northern Territory.

Operating costs have been reduced to A$12.36 per kilogram of total rare earth oxides from the previous A$14.51 per kilogram.

The savings were identified from work in three key areas:
- Resizing of equipment identified in capital review studies;
- Process efficiencies resulting in less reagents; and
- Lower required work force.

These reduced operating costs help the project remain entrenched in the lowest quartile of the cost curve.

Further cost improvements will assist the company to advance and finance the project.

The Nolans project contains the elements neodymium and praseodymium, which have been resilient to recent price falls in rare earths due to their use in magnets.

These magnets are driving further efficiencies in hybrid and electric vehicles, wind turbines and electronic devices.

Arafura recorded a strong cash balance of $13.5 million at the end of March.

The company expects to lodge its Environmental Impact Statement with the Northern Territory Environment Protection Authority during the June quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Arafura Resources Ltd

Price: 0.089 AUD

ASX:ARU
Market: ASX
Market Cap: $93.89 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Arafura Resources Ltd named herein, including the promotion by the Company of Arafura Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Thor Mining to start drilling at its Bonya deposits as early as next week

Thor Mining PLC's (LON:THR) (ASX:THR) Mick Billing tells Proactive London's Andrew Scott drilling at the Bonya tungsten deposits adjacent to Molyhil, in the Northern Territory of Australia, could start towards the end of next week. The Bonya project is held in a 40%/60% joint venture with...

on 29/3/19

2 min read