Arafura Resources Abandons Plans for Rare Earths Complex in Bid to Cut Costs

Mining Weekly reported that Arafura Resources (ASX:ARU) has cancelled a land sale agreement with OneSteel, and is cancelling plans for a rare earths complex in South Australia.

As quoted in the Mining Weekly report:

The company said on Friday that the termination of the land purchase agreement would save the company some A$400-million, as well as offer material savings in operating costs by relocating the intermediate chemical processing closer to the Nolans bore mine site, and by potentially locating rare earth separation alongside established infrastructure, at a suitable chemical precint.

To view the whole Mining Weekly report, click here.