Arafura on target for rare earths production

Company News

Arafura Resources Ltd (ASX:ARU) has told the Associated Press that Australia's tough mining and environmental regulations will give the nation a competitive advantage marketing its rare earths.

Arafura Resources says the challenge in the industry is on the supply side, to keep up with the strong demand, adding that overall global tightness has been exacerbated outside of China because of the Chinese export quota reductions.

In September Arafura said it had found a site for its rare earths processing complex and is on target for first production of rare earth oxides in 2013.

In the 2010 financial year Arafura Resources booked a net loss of $10.13 million.

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