Arafura Resources passes key milestone at Nolans Nd-Pr Project with mineral leases granted

Arafura Resources Ltd (ASX:ARU) has jumped the final regulatory hurdle for the Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory with the granting of mineral leases (MLs) by the NT Government.

This key milestone secures the Nolans Bore mineral resource for an initial period of 25 years and shares have jumped more than 8% at opening to 6.2 cents.

The MLs, which will host the Nolans mine, process plant, waste storage facilities and accommodation village, were granted to Arafura's wholly-owned subsidiary Arafura Rare Earths Pty Ltd (ARE) by the Northern Territory Minister for Primary Industry and Resources, Paul Kirby.*Native Title Agreement*

This comes after the signing of the project's Native Title Agreement (NTA) last month by Anmatyerr native title holders who, in so doing, gave their consent to the grant of all the MLs allowing for multiple renewals beyond the initial grant term.

The grant process provides Arafura with the exclusive right to mine and to occupy the MLs to construct and operate the Nolans Project.*"Step closer to final investment decision"*

Managing director Gavin Lockyer said this was an exciting time as it represented the last regulatory hurdle for the project and the company.

He said: "This significant milestone brings us one step closer to a final investment decision at a time when critical minerals such as rare earths are in growing demand around the world.

"The Native Title Agreement and granting of the MLs will provide investors with a major confidence boost that the project is ready to proceed subject to finance."