Originally published by Gary Shipway of NT News
24.05.2026
Arafura Rare Earth’s largest shareholder Gina Rinehart, has followed up on the Albanese government’s decision to buy some of the company’s future output, by increasing her stake in the company.
The NT News broke Arafura the news of Arafura’s final investment decision to develop the $1.9 billion Nolans mine rare earths project 130km north of Alice Springs last week.
The mine is predicted to create 1000 jobs and produce about 5 per cent of global rare earths.
Arafura has now launched a $375 million capital raising plan, built around a two-tranche share placement at 26 cents per share to raise $350 million, plus a stock purchase plan at the same price that could bring in up to A$25 million.
Mrs Rinehart’s Hancock Prospecting is putting $85m into the placement taking its 15.5 per cent stake to 17.5 per cent.
Mrs Rinehart, who has the world’s largest portfolio of rare-earth element investments outside China, said the Nolan’s rare earth’s project will play a vital strategic role in the global critical minerals supply chain.
She said Hancock Prospecting is pleased to support development in the Northern Territory and support Arafura with additional investment to enable the start of construction of the Nolan’s rare earths project.
Arafura Rare Earths’ Nolans mine could be worth more than $25bn to the Northern Territory economy, delivering lasting benefits across decades.
Arafura will have about $911m of cash in the bank following the capital raise and said the equity funding component needed to construct Nolans is now fully completed.