The first sod is officially being turned today for the $1.6 billion Nolans rare earths project, hailed by Chief Minister Lia Finocchiaro as the largest mining investment in the Northern Territory.
Nolans, 135km north of Alice Springs, was the first significant project declared under the Territory Coordinator Act, which ensures designated projects have a clear pathway through government.
More than 70 work packages have already been advertised, and a 250-bed workforce accommodation site is targeted for completion by next month.
“Nolans is a nation-building project that will create good local jobs for decades to come, strengthen the Territory economy and cement the NT’s place at the centre of Australia’s critical minerals future,” Ms Finocchiaro said.
“Importantly, Nolans will help position Australia and our allies as a secure and reliable source of the rare earths needed for advanced manufacturing, defence technologies and the industries that will drive future economic growth.
“The designation of Nolans as a significant project under the Territory Coordinator Act ensures the Territory can take a coordinated, whole-of-government approach to support delivery of this nationally significant project by reducing unnecessary delays and keeping this project moving.
“Projects like Nolans show that the Territory has everything that Australia needs – we have the resources, the strategic location and the industrial potential to meet some of the nation’s biggest challenges.”
The Arafura Rare Earth (ASX: ARU) project will become only the third fully integrated rare earths ore-to-oxide operation outside mainland China and is expected to produce about four per cent of global neodymium-praseodymium oxide demand outside China.
The project is forecast to contribute $25.2 billion to the Territory economy over its 38-year operational life, creating more than 600 construction jobs and about 350 ongoing operational roles.
Arafura Rare Earth managing director and chief executive officer Darryl Cuzzubbo said the Nolans mine would be significant on a global scale.
“Getting a project like this started is one of the hardest parts – and together, we’ve done it. But today is a beginning, not the finish line,” Mr Cuzzubbo said.
“Over the next three years, hundreds of people will build a mine and a processing plant here, in one of the most remote parts of the country. It will be built in the same way we’ve built our partnerships with Traditional Owners, lenders, customers and other stakeholders – with integrity and respect at the core. Nolans will be here for more than half a century.
“With partners across the world’s largest manufacturing hubs in Korea, Europe, the US and India, the operation will be important on a global scale. The Northern Territory and Australia will become a trusted source of the high-value inputs that power the world’s energy transition and advanced technologies.”