Arafura Rare Earths has extended an existing binding offtake agreement through its wholly owned subsidiary, Arafura Nolans Project Pty Ltd, to supply up to 500 tonnes per annum of neodymium-praseodymium oxide equivalent to a global wind turbine original equipment manufacturer.

The arrangement features an initial five-year term with a potential extension of up to eight years, aligning delivery timing with the schedule for the Nolans Project in the Northern Territory. Annual contract volumes include optionality to give both parties operational flexibility while ensuring appropriate volumes are retained to satisfy export credit agency requirements. Pricing under the agreement is set in United States dollars and linked to independent seaborne pricing indices, including Benchmark Minerals Intelligence indices or S&P Global Platts North America pricing. The transaction remains subject to customary conditions precedent.

Following a final investment decision made in May 2026 to develop the Nolans Project, the company is advancing construction readiness and aligning offtake arrangements with project schedules. Arafura previously secured a 500-tonne-per-annum offtake term sheet with an Indian industrial group in June 2026 featuring a five-year term with a two-year extension option.

Alongside commercial updates, Arafura is progressing final credit approvals with lenders ahead of executing project finance documentation for the Nolans development.

Read the full announcement: Arafura extends binding offtake agreement