Up to $840 million will be provided by the federal government to help deliver Australia’s first combined rare earths mine and refinery in the Northern Territory
The NT government says the refinery will generate over 300 jobs across the Northern Territory and will also diversify our critical minerals supply chain.
Located 125km north of Alice Springs, the rare earths mine and refinery will be operated by Australian mineral exploration company Arafura.
Construction alone will create over 200 jobs according to the NT government, with over 125 full-time jobs ongoing local jobs. The company has also stated its ambition of securing 20 per cent of local indigenous employment.
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Rare earths are used to make powerful magnets and are an essential component in technology such as electric vehicle motors, wind turbines, robotics and mobile phones.
“This will create local jobs and economic opportunities, helping Australian and Territory companies and workers capture more value from the game-changing critical minerals deposits we have here,” prime minister Anthony Albanese says.
NT trade and tourism minister Don Farrell says: “We have some of the largest deposits of critical minerals in the world and through this project, we’re encouraging more international partners like the Republic of Korea and Germany to invest in Australia and diversify global supply chains.
“International buyers and investors are key to developing our abundant critical minerals opportunities, which is why we are also building strong partnerships with major economies.”