CANBERRA, Oct 8 (Bernama-Xinhua) -- The Australian government announced on Thursday that construction has begun on a major rare earths project in the Northern Territory, backed by AUD$1.2 billion (about US$850 million) in federal investment, reported Xinhua.
The Arafura Rare Earths Nolans Project, located about 135 kilometres north of Alice Springs, is expected to supply four to five per cent of global rare earths demand, according to a joint statement issued by three Australian ministers.
The Australian government said the project would help strengthen the country’s economic and national security by supplying critical materials used in clean energy technologies and the defence industry.
-- BERNAMA-XINHUA
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