The Albanese government's Critical Minerals Strategic Reserve is generating real jobs in the Northern Territory and delivering on our commitment to build up our domestic industry.

The government's support for Arafura Rare Earths has helped the company make a final investment decision on its Nolans Project near Alice Springs, with construction and jobs to start rolling out later this year.

The company expects to create around 600 jobs during the construction phase, with around 350 ongoing jobs once operations start at this world-leading project north of Alice Springs.

And this extraordinary natural resource of the Northern Territory is of global significance, and this integrated ore for oxide refinery is a long-term prospect for Alice Springs with a minimum mine life of nearly 40 years. This is great news for Alice Springs, the Northern Territory, our national economy.

The green light for the project also strengthens our sovereign capabilities and our national security, and the economic and national security of our trading partners.

This is all about building our industry in Australia, and processing those rare earths here in Australia.

The Nolans project will produce neodymium-praseodymium oxide, or NdPr, which are the rare earths found in high-performance magnets used for advanced manufacturing and defence technologies.

These rare earth elements are found in fighter jets, submarines, drones and electric vehicles, as well as other modern technologies.

The Arafura Rare Earths decision demonstrates how the Albanese government is taking a global lead to help diversify global supply chains and to ensure a reliable supply of rare earths and critical minerals for our trading partners.

Once operational, the Nolans Project is projected to supply approximately 4 to 5 per cent of global rare-earth demand.

The project is the first to be supported by our Critical Minerals Strategic Reserve. The government has signed a non-binding agreement to buy up to 500 tonnes a year of rare earths a year for five years.

The project milestone is the result of many years of hard work and international engagement.

Just last year, the project in the heart of Australia was at the centre of talks between Prime Minister Anthony Albanese and US President Donald Trump in the White House.

It was a key part of the landmark Australia-US Critical Minerals Framework Agreement signed by the Prime Minister and President.

Arafura also has already secured additional offtake agreements with European, Korean and North American counterparts.

And the project has attracted support from the export credit agencies of the United States, Canada, Germany and the Republic of Korea, as well as backing from the Commonwealth Bank of Australia and Hancock Prospecting.

The Australian government has invested approximately $140m in a cornerstone equity investment in Arafura under the Australia-US Critical Minerals Framework Agreement, and committed to provide the project with up to $700m in debt.

The Albanese government is focused on building a stronger, more resilient economy that works for more people.

Published in The NT News, 31 May 2026.