14 March 2024
by Hassan Akhtar

AUS$840mln for rare-earth mine in Australia

The Australian Government will provide AUS$840mln to set up the combined site operated by mineral exploration company Arafura.

© Unsplash/aboodi vesakaran

Located in the Northern Territory, the site is expected to produce 300 jobs in the territory, with a target of 20% local indigenous employment.

The government hopes the contribution will develop international investment, with Minister for Trade and Tourism Don Farrell saying, ‘We’re encouraging more international partners like the Republic of Korea and Germany to invest in Australia and diversify global supply chains. International buyers and investors are key to developing our abundant critical minerals opportunities.’

Rare-earths are used in electric vehicle motors, wind turbines, robotics and mobile phones.

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Hassan Akhtar