Nolans rare earths project marks construction milestone in NT
Arafura's A$1.8 billion project near Alice Springs is due to have its mine and processing plant built over three years, the company's chief executive says.
A ground-breaking ceremony on 8 October 2026 marked a step towards construction for Arafura Rare Earths' A$1.8 billion Nolans project in Central Australia. The site is about 135 kilometres north of Alice Springs.
After two decades of development, the project has reached a final investment decision with financial backing from Australia and its allies. Darryl Cuzzubbo, Arafura's chief executive and managing director, said hundreds of workers would construct the processing plant and mine over the next three years.
Federal Resources Minister Madeleine King attended the ceremony with NT Chief Minister Lia Finocchiaro. King said federal support for Nolans amounted to A$1.2 billion. Hancock Prospecting also owns a significant stake in Arafura.
The project is intended to produce neodymium and praseodymium for magnets used in electric vehicles, wind turbines and defence applications. Arafura says its supply agreements cover Hyundai, Kia, Siemens Gamesa Renewable Energy and GE.
The NT government expects production to meet around four per cent of global demand outside China for neodymium-praseodymium oxide. Politicians and company officials said the project would generate hundreds of Territory jobs and challenge China's dominance in rare earths.
