Rare Earths Industry Boosted by Another $200 Million to Break Reliance on China

The development is set to create 600 jobs during the construction phase and 350 ongoing roles once mining and refining operations are underway.

Industry and Science Minister Ed Husic speaks to media during a press conference in Canberra, Australia, on May 13, 2021. Sam Mooy/Getty Images

The Australian government’s National Reconstruction Fund Corporation (NRFC) has announced a $200 million (US$123 million) investment in Arafura Rare Earths to advance the critical minerals sector.

The funding will help develop the Nolans Project, a rare earth mine and processing facility located 135 kilometres north of Alice Springs.