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Arafura Rare Earths Signs Subscription Agreements for Northern Territory Project in March Quarter

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Arafura Rare Earths (ASX:ARU) executed agreements with Export Finance Australia and Kreditanstalt fur Wiederaufbau, on behalf of the German Raw Materials Fund, securing equity subscriptions amounting to AU$230 million in the quarter ended March 31 to support the Nolans project in the Northern Territory, according to a Wednesday filing with the Australian bourse.

The company's Arafura Nolans Project subsidiary also finalized a compensation deed with ATAYF Pastoralists, the holder of the lease covering the project site, the filing said.

Additionally, the company partnered with Clean TeQ Water (ASX:CNQ) to review alternative heavy rare earth separation technologies, per the filing.

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