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FINWIRES

Arafura Rare Earths Advances Northern Territory Project in June Quarter; Shares Up 4%

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Arafura Rare Earths (ASX:ARU) advanced the Nolans project in the Northern Territory during the quarter ended June 30, with construction slated to start in September, according to a Friday filing with the Australian bourse.

The company is advancing the tender process following financial investment decision, with certain long-lead and specialized items either readily available or already obtained, the filing said.

Meanwhile, engineering efforts are focused on the extraction plant and initial construction packages, with a complete ramp-up of engineering resources in progress, per the filing.

Shares rose 4% in morning trade Friday.

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