Arafura Rare Earths Raises AU$475 Million to Advance Nolans Project

Arafura Rare Earths Limited (ASX: ARU) has successfully secured commitments worth approximately AU$475 million through a two-tranche institutional placement to accelerate the development of its Nolans Project. The placement, priced at AU$0.28 per share, received robust demand from institutional investors, including a AU$125 million commitment from major shareholder Hancock Prospecting Pty Ltd, which will hold around 15.7% post-transaction. Tranche one will raise AU$123.4 million, while tranche two, pending shareholder approval, will contribute AU$351.6 million. Additionally, a Share Purchase Plan (SPP) aims to raise AU$50 million, with potential oversubscriptions up to AU$20 million, under the same offer terms. The capital injection supports Arafura’s planned final investment decision early next year, paving the way for construction of the Nolans Project—positioned as a key contributor to Australia’s role in the global rare earths supply chain.

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