Arafura Rare Earths is an Australian critical minerals mining company operating out of Alice Springs, and headquartered in Perth.
They mine and refine heavy metals, mainly for magnets, which are critical for manufacturing the electronics and renewable energy components in most technologies, from vehicles to wind turbines.
Arafura’s flagship endeavour, the Nolans Project, is Australia’s first combined mining and refining site.
The Government awarded Arafura $840 million in support of developing the site, which has world-leading ethics and sustainability practices. Critical minerals markets are quite thin, meaning they have few buyers and suppliers, which is why Government support for this project is important – it gives confidence to investors and the market that it will be successful.
Arafura’s flagship Nolans Project in Alice Springs will supply around 4% of the world’s magnet minerals. The mine also produces, as a by-product, a lot of phosphorus, which is an essential ingredient in fertiliser. This mine and refinery will help secure Australia’s position as a trade powerhouse in the transition to net zero economies worldwide.
Local benefits:
The company supports 682 construction jobs and 366 ongoing jobs in operations. Arafura has also created an indigenous engagement strategy to ensure that it preserves culturally significant sites on Country, and appropriately recognises Indigenous peoples social and cultural rights.
Consumer benefits:
Many consumers want to switch to all-electric appliances and power their homes and communities with renewable energy. Without companies like Arafura, the rollout of this cleantech would not be possible. Hosting critical minerals industries in Australia means that more of the supply chain is kept local, providing us with energy security and economic opportunities now and into the future.
Climate benefits:
The Nolans Project has a net-zero by 2050 plan which includes a 50% reduction in emissions by 2030. The company’s transition plan includes an analysis of its emissions profile, with 85% of emissions coming from energy usage. To address this, Arafura is developing a solar thermal energy system, backed by wind and batteries, to power its mining and refining operations. This will be up and running by 2030.
The company has an outsized impact on addressing climate change, with its critical minerals products helping to manufacture the renewable energy and electric technologies the world needs to decarbonise.
image, courtesy Arafura Rare Earths