Arafura Rare Earths’ (ASX:ARU) Nolans Project has been declared the first Significant Project under the Territory Coordinator Act 2025, which recognises projects of economic significance to the Northern Territory.
This announcement follows Arafura’s final investment decision for Nolans, as well as the launch of a $350 million placement to fund the project’s development, as previously reported by Mining.com.au.
The Minister for Territory Coordinator notes that this designation can unlock key advantages for a project, including streamlined statutory processes such as permitting and approvals, as well as accelerated job creation and workforce development opportunities.
The Nolans Project is considered one of the Territory’s most consequential contributors to Australian industrial productivity. An independent economic analysis conducted by ACIL Allen in 2024 noted that the project is set to deliver a forecast economic benefit of $25.2 billion to gross Territory product over its initial 38-year mine life.
The resulting infrastructure is also set to create additional regional growth across logistics, engineering, water management, power generation, and environmental stewardship and compliance.
Arafura notes that Nolans is expected to generate more than 600 jobs during its construction phase, with 350 permanent positions for long-term operations. The company has committed to maximising local and Indigenous workforce participation.
CEO Darryl Cuzzubbo says that the designation as a Significant Project reflects the Territory’s recognition of Nolans as a project of “vital importance”.
“It will help us to materialise significant benefits for the Territory now, while unlocking future value as we look to more than double production through our phase two growth ambitions.
“The project will not only capture 95% of the rare earths value chain domestically, but it will position the Northern Territory and Australia as a world-leading alternative source of the rare earth elements driving the energy transition and modern and future-facing technologies.”
Arafura Rare Earths is an Australian rare earths exploration company focused on rare earths mining and processing to enable the global energy transition.
Write to Amy Rotman at Mining.com.au
Images: Arafura Rare Earths
