Arafura Resources (ASX:ARU) secures $600M laon for Nolans Project

Rare-earth firm Arafura (ASX:ARU) has received non-binding preliminary support from German export credit agency Euler Hermes Aktiengesellschaft for an untied loan guarantee of up to $600M to support the Nolans NdPr project in the NT.

The guarantee would be conditional on Arafura entering into offtake agreements with German-based companies.

Arafura also announced the Northern Australia Infrastructure Facility has also increased its size of a potential support package from $100M to $150M for a 15-year term.

Following the announcement, shares of Arafura Resources were up 3.03%.