NT gov backs Arafura's plans for Nolans
PERTH (miningweekly.com) – The Northern Territory government has approved ASX-listed Arafura Rare Earth’s mining management plan (MMP) for its Nolans neodymium-praseodymium (NdPr) project.
The mining authorisation allows Arafura to mine, construct and operate the Nolans project, delivering formal approval of the MMP and the environmental management plans, which outline how the company will meet the approval conditions of the Northern Territory’s Environment Protection Authority.
“This approval validates the enormous amount of hard work undertaken since ramping up the environmental-impact studies in 2014. It provides the framework, along with our environmental and social governance commitment to transparency and openness, that will ensure we minimise the impact of the Nolans project on the unique Central Australian Arid Zone environment,” said Arafura MD Gavin Lockyer.
“This approval, following the recent Hyundai/Kia offtake agreement and project update, adds to the momentum that should allow Arafura to commence procurement and construction, with a final investment decision expected to occur in early 2023.”
Arafura recently also confirmed the economics of the Nolans project, with capital costs estimated at A$1.39-billion pre-production, and a A$196-million contingency, with the project expected to produce 4 440/t of NdPr oxide over a mine life of 38 years.
Operating costs have been estimated at A$61.60/kg of NdPr.
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