Rare earths: The race is on
By ERWIN CHLANDA
The Nolans Bore rare earth, phosphate and uranium deposit 135 km north of Alice Springs was discovered in 1995.
One of the biggest graphite deposits in the world, at Esmeralda near Croydon, was hawked to an American company during a trade mission led by Queensland Resources Minister Dale Last (pictured) in February last year.
It is now likely that the construction of the Nolans Bore mine will start soon – 31 years after discovery.
The Queensland graphite deal, worth $1.3 billion, was closed within six months.
The money came from the US government's EXIM Bank and Graphinex is the company.
“They came out, they saw the potential,” says Mr Last who was a speaker at this week’s Developing Northern Australia conference in Alice Springs.
Queensland towns Mt Carbine and Pinkenba are also involved in the project, and a pilot plant is already in operation in Townsville which will allow mining to be brought forward three years, says Mr Last.
His government will be spending “millions” on infrastructure for the project.
The Queensland Premier will be on a fresh precious earths selling trip to the USA this month.
Meanwhile – fingers crossed – Nolans will be entering its productive phase soon.
Looking back: Compiled by ChatGPT with the NT Environment Protection Authority as the source.
1995 – The Nolans Bore deposit is discovered as a mineral discovery rather than a mine proposal.
2001 – Arafura Resources acquire the exploration licence, drills its first holes, and publishes the maiden JORC resource estimate. This marks the point at which development of a commercial mine is seriously being pursued.
2007 – A pre-feasibility study is completed, examining mining and processing rare earths, phosphoric acid and uranium in the NT.
2008 – The project enters the public domain as a proposed mine. Environmental studies begin, a mining lease application is lodged, and Arafura publicly announces plans for what is then described as Australia's first rare earth and phosphate mine, with production initially targeted for 2011.
2016–2018 – The project undergoes its Environmental Impact Statement process and receives environmental approval, although financing delays mean construction does not begin.
2026 – After more than two decades of studies, approvals and financing efforts, Arafura makes its Final Investment Decision and committed to construction.
PHOTO adapted from Graphinex website.