Arafura Rare Earths has received conditional approval from a German government inter-ministerial committee for up to $115 million in loan guarantees for its Nolans project, the Australian rare earths miner said on Thursday.
The announcement came as Australia and its allies diversify the global supply chain for rare earths after Covid-related snarls highlighted China-linked supply risks. China produces more than 80% of the world’s rare earths.
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