Arafura Rare Earths Ltd (ARAFF) Strikes Land Deal For Its Nolans Project Site

Arafura Rare Earths Ltd (OTC:ARAFF) is among the rare earth stocks to buy with high upside. On March 10, Arafura Rare Earths Ltd (OTC:ARAFF) announced that it would issue shares worth A$4 million to ATAYF Pastoralists as part of a compensation deal with the holders of the pastoral lease covering its Nolans Project site.

It said the compensation would formalize access associated with the development of the Nolans Project, which is focused on rare-earths production. Arafura also said that ATAYF Pastoralists would invest A$1.2 million in cash in Arafura shares as the two parties deepen their ties.

In a separate update issued on March 10 regarding the Nolans Project, Arafura said that it has agreed to acquire an existing camp infrastructure with more than 200 rooms at Nolans from an entity called NT Link. It said it would pay A$6.75 million for the facilities. According to Arafura, acquiring these facilities would strengthen the operational flexibility of the Nolans site and eliminate long-term rental costs.

In yet another update on March 10, Arafura said it has partnered with Clean TeQ Water (Clean TeQ) on a program focused on alternative processing of heavy rare-earths to maximize production. Arafura said the global supply of heavy rare-earths remains thin and concentrated in China, yet these elements are critical in industrial and defense applications.

Arafura Rare Earths Ltd (OTC:ARAFF) is an Australian mining company based in Western Australia. Producing rare-earth elements is part of its business, and its flagship project in this space is the Nolans Rare Earths Project in Central Australia. This project is dedicated to mining and processing a variety of rare-earth elements.

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