Arafura Resources Reduces Opex for Nolans Project

Arafura Resources (ASX:ARU) has reduced its operating costs by roughly 15 percent for its Nolans rare earth project in Australia’s Northern Territory.
As quoted in the press release:

The Nolans Project OPEX has been reduced to A$12.36/kg of TREO (total rare earth oxide), a 15% reduction from the previous A$14.51/kg of TREO. The savings of approximately $2.15/kg of TREO was identified from work in three key areas on which Arafura has focussed during the second half of 2015 and first quarter of 2016:
1. Resizing of equipment identified in capital review studies (as previously advised in ASX announcement 18/11/15);
2. Laboratory-scale test work targeting a number of process improvement efficiencies, including recycle loops and residence times, have identified a reduction in use of a number of reagents; and
3. Extensive studies undertaken as part of the Nolans Environmental Impact Statement (“EIS”) have confirmed that the estimated workforce required for the Nolans operation will be lower than previously expected.

Click here for the full press release.