Email Us CALL US NOW +86-010-53345989
Huatai Xinding(Beijing)Metal Materials Co., Ltd.
Magnetic solution
provider & manufacturing expert,
25 years of professional experience
Innovative solutions for sustainable developments toward a better world
Striving for excellence and continuous improvements to support your success

Australia's Arafura Received $600M Fund From German Insurance Agency

Australia's Arafura Rare Earths Ltd said on Wednesday it received a $600 million loan guarantee from German insurance agency Euler Hermes Aktiengesellschaft to develop its Nolans project in Northern Territory.

The guarantee is subject to Arafura entering supply deals with German firms, and corresponding quantities of neodymium-praseodymium (NdPr) products ultimately being processed in Germany into permanent magnets or powertrains.


Neodymium-Praseodymium (NdPr) oxide is an element used in the making of electric motors for electric vehicles, and is prized by automobile companies making the green energy transition.

Arafura also said the Northern Australia Infrastructure Facility (NAIF) decided to increase the quantum of its project finance to A$150 million ($100.41 million) from A$100 million.

The miner has a seven-year deal with South Korea's Hyundai Motor Co and its unit Kia Corp to supply up to 1,500 tonnes of a rare-earth oxide per year.

Shares of Arafura rose 3% to a one-week high of A$0.510, as of 0208 GMT, while the benchmark stock index was up about 0.2%.

Related News
  • Recycling Hard Drive for Rare Earth Magnet

    Recycling Hard Drive for Rare Earth Magnet

    August 9, 2021At a laboratory inside a Google data center in Mayes County,Oklahoma, researchers spent the fall of 2019 disassembling old hard disk drives by hand in order to extract a 2-inch-longcomponent known as ...view
  • Chance To Commersialise REE By Innovative Method

    Chance To Commersialise REE By Innovative Method

    March 23, 2022Researchers at the US-based Critical Materials Institute (CMI) at Iowa State University are commercialising an innovative method of recycling rare earth metals by extracting them directly from scrap m...view
  • Fishing Magnets In Details

    Fishing Magnets In Details

    July 4, 2022Single-sidedsingle sided magnetTREVOR RAABOften called “dipping” magnets, these attract treasures more effectively when dipped up and down off the bottom of a body of water. They’re ideal for dropp...view
  • How Boron Can Help to Improve Tesla's Perfomance

    How Boron Can Help to Improve Tesla's Perfomance

    January 18, 2022Tesla improves performance using strategic minerals - lithium in batteries, boron in neodymium magnets, and boron for lighter, stronger frames.HONG KONG, January 2, 2022 / -- Tesla ma...view