Siemens Gamesa has signed a binding offtake agreement with Australian firm Arafura for the supply of NdPr metal.
The rare earth metal will come from Arafura’s Nolans Project over a five-year term, with an option to extend by a further two years.
Arafura will supply 200tpa commencing in 2026, increasing to 360tpa in year two and 400tpa (520tpa NdPr oxide equivalent) in years three to five in alignment with ramp up to nameplate capacity at Nolans.
This agreement is the second binding offtake contract secured for Nolans.
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It will support ongoing discussions with German export credit agency Euler Hermes, which recently provided Arafura with a non-binding letter of in-principle support for an untied loan guarantee of up to US$600m.