Arafura progresses Nolans project towards final investment decision

Arafura Rare Earths Limited shareholders approved all resolutions at its Annual General Meeting on October 30, 2025, showing strong support for the Nolans Project. Approvals included the Remuneration Report, the re-election of Ms. Cathy Moises as director, the cancellation of 2024 Performance Rights, and the issue of Performance Rights to Mr. Darryl Cuzzubbo.

The company has made substantial progress in its funding strategy, securing a binding term sheet with the National Reconstruction Fund Corporation for an A$200 million Convertible Note and a conditionally approved equity investment from Export Finance Australia for up to US$100 million. Other conditionally approved financing includes US-AUS Critical Minerals framework support and GRMF Euro100 million due diligence.

An investment decision is targeted for Q1 2026, contingent on shareholder approval of Tranche 2 and SPP equity raise, securing cornerstone equity, and currency of debt approvals. With Hatch Engineering appointed as EPCM partner, the Nolans Project is positioned for execution, supported by over US$40 million in de-risking site works and a clear pathway to a fully funded solution with US$1 billion debt funding conditionally approved.