In this week’s Funding Friday, several ASX-listed mining and resources companies secure fresh funding or reach key milestones – signaling strong investor confidence across the sector.
Arafura Rare Earths (ASX:ARU) is among the many mining companies that have secured a potential further investment to support its Nolans Project in the Northern Territory.
Export Finance Australia (EFA) has provided a non-binding conditional letter of interest relating to potential investment to support the project. Any potential investment, and key terms, remains subject to ongoing discussions between Arafura and EFA.
The completion of the deal is subject to satisfying due diligence and securing necessary approvals.
The Nolans Project’s development aligns with the Australian Government’s Critical Minerals Strategy 2023-2030. The project will support the development of secure and reliable supply chains with key international partners.
CEO Darryl Cuzzubbo says EFA’s investment consideration highlights the significance of the Nolans Project in nurturing the development of Australia’s rare earths sector.
“We have an opportunity to establish Australia as a global leader in the rare earths sector, enabling a resilient, independent, and diversified supply chain,” Cuzzubbo says.
Canada and divestments
Faraday Copper (TSX:FDY) released its financial results for Q2 2025, in which the company had C$2.93 million cash and cash equivalents at hand as of 30 June 2025.
During the first half of 2025, the Canadian mineral explorer spent C$14.42 million in operating activities and used C$259,507 in investing activities. Faraday adds C$35,200 was provided by financing activities.
Faraday says it will need to raise additional funding to finance its day-to-day operations and to enable it to achieve its long-term business objectives.
As previously reported, the company completed a capital raise, which aims to raise C$49 million to advance its Copper Creek Project in Arizona, US.
A total of 26.14 million shares were issued at C$1.1 per share for the brokered offering to raise C$28.75 million, with the remaining C$20.02 million sourced from a private placement.
A non-brokered offering issued a further 18.2 million shares at the same offer price.
Ventum Financial acted as the lead underwriter and sole bookrunner, with BMO Nesbitt Burns, Canaccord Genuity, Haywood Securities, and TD Securities also acting as underwriters.
Albion Resources (ASX:ALB) has completed a binding agreement with Capricorn Metals (ASX:CMM) for the sale of the Mongers Lake Project in Western Australia.
Under the deal, Albion has secured $1.4 million worth of shares in Capricorn, in addition to a $100,000 non-refundable cash deposit that was received upon executing the deal.
Albion, which has a market capitalisation of $13.20 million, also retains upside through contingent milestone payments of up to $1.5 million.
The company says the combination of cash and liquid in Capricorn shares strengthens its balance sheet and provides immediate funding for ongoing exploration at the Yandal West Gold Project in Western Australia.
CEO Peter Goh says the transaction places Albion in a “strong” financial position.
“Importantly, it allows us to accelerate drilling and target generation at Yandal West, where we’ve already had great success,” Goh says.
Project funding
Critical Metals Group (ASX:CMG) will receive $900,000 as a progress payment this month, which will enable the company to advance its CMG Vanadium Electrolyte End-to-End Supply Chain Project for battery materials.
This news comes after Critical Metals achieved key development milestones of its flagship project, and as a result, met commitments under a grant agreement with the Department of Industry, Science and Resources.
In December 2024, Critical Metals was awarded a staged $2.7 million grant through the Australian Government’s International Partnership in Critical Minerals Program.
Critical Metals, which has a market capitalisation of $13.10 million, delivered activities necessary for obtaining bulk samples from its Lindfield Project in Julia Creek, Queensland.
The samples were processed to vanadium pentoxide on a demonstration scale and were also produced vanadium electrolyte at the company’s manufacturing facility that is being developed in Logan, Queensland.
With the progress payment, Critical Metals remains on track to deliver the next stage of the project, further building Australia’s capability in critical minerals processing and supporting the broader adoption of long-duration energy solutions worldwide.
In February 2026, the company will receive $100,000 and a further $789,000 in August 2026.
The company’s vanadium electrolyte project is key to its strategy to expedite developing vanadium pentoxide and electrolyte supply chain – a critical enabler for vanadium flow battery energy storage solutions.
BPH Global’s (ASX:BP8) subsidiary PT BPH Global Indonesia has entered into a binding trade financing loan agreement and a lien agreement, for up to US$375,000 ($575,153) over seaweed stock with Singapore-based commodities trader Equentia Natural Resources.
As part of the trade financing facility, a minimum of US$75,000 drawdown is required per tranche, with a 15% interest rate per year which is calculated month.
Under the lien agreement, BPH Indonesia grants Equentia a floating lien over all dried seaweed stock owned or controlled by the subsidiary in its warehouse or possessions.
The deal enhances the company’s purchasing power, enabling it to independently procure larger volumes of seaweed stock and expand its processing capabilities at the soon-to-be commissioned warehouse in Makassar, Indonesia.
The funding also provides for further expansion of the existing commercial agreement with PT Kebula Raya Bestari.
Seaweed stock is considered important for environmental and economic reasons, as it plays a vital role in marine ecosystems and provides a sustainable food source. Unlike terrestrial outcrops, seaweed does not require fertiliser, pesticides, freshwater, or land, and it grows rapidly.
According to the World Wildlife Fund, seaweed acts as an underwater forest that absorbs carbon, nitrogen, and phosphorus.
Write to Aaliyah Rogan at Mining.com.au
Images: Arafura Rare Earths, Faraday Copper, Critical Metals Group, & BPH Global
