Arafura Resources buoyed as Federal Ministers pledge support for Nolans Neodymium-Praseodymium Project in Northern Territory
Arafura’s recent feasibility study update confirmed the project’s ultra-low operating costs of US$24.76/kilogram neodymium-praseodymium oxide and will form the basis for securing project finance. The company has received a letter of support from two Australian Government Ministers.
Arafura Resources Ltd (ASX:ARU) (OTCMKTS:ARAFF) (FRA:REB) is encouraged by the strong support being demonstrated by the Australian Federal Government for the Nolans Neodymium-Praseodymium (Nd-Pr) Project in the Northern Territory.
The latest show of support is in the form of a letter from the Minister of Trade, Tourism and Investment Dan Tehan and the Minister for Resources, Water and Northern Australia Keith Pitt.
12 May 2021
The stunning January 2020 performance of Australia’s original Tesla big battery, the Hornsdale Power Reserve, continues to set an unattainable benchmark for French renewables giant Neoen, with the company’s first quarter 2021 result down 16% on the same time last year – a victim of its own success.
Neoen on Wednesday reported a Q1 2021 consolidated revenue of €80.2 million ($A124.4m), a decrease of 16% compared to the same time in 2020, dragged down by a decline in storage revenue from €21.6 million in 2020 to €5.3 million this year.
Wind and solar generation contributed to the bulk of the earnings for the quarter: €38 million from solar (equal to the same time in 2020); and €36.7 million for wind, a slight increase on the same time in 2020 thanks to “excellent wind resources” in Europe.
7 May 2021
The Morrison government will pour a further $58.6 million into the gas industry as part of a funding package for new gas storage facilities and a gas import terminal on Australia’s east coast.
The funding will be included in the federal budget, to be handed down on Tuesday next week and represents a doubling-down by the Morrison government on its ‘gas led recovery’ push to expand the gas industry.
The package includes support for Squadron Energy, backed by resources billionaire Andrew Forrest, to build a new gas import terminal at Port Kembla. It comes as the UN releases a new report that calls for a dramatic cut in methane emissions – much of which comes from the extraction of fossil gas – over the next decade.
The Federal Government has announced millions of dollars in funding for regional connectivity projects across Australia, which will be part of the upcoming budget to be revealed on Tuesday.
Making the announcement at Beef Australia in Rockhampton on Thursday, May 6, Minister for Northern Australia Keith Pitt said $190 million would go toward funding the Northern Australia Infrastructure Facility (NAIF) along corridors from Townsville to Mount Isa, Gladstone to Cairns, Darwin to Kununurra, and Darwin to the Beetaloo Basin.
Mr Pitt also announced $9 million would be focused on a pilot program on those corridors for the projects.
“We have to ensure that Northern Australia is connected to the world, and it is this government that is delivering to the north,” he said.