{
  "id": 14490744,
  "title": "Rinehart-backed Arafura expands US rare earths deal by 70%",
  "url": "https://urgent.news/2026/10/14/rinehart-backed-arafura-expands-us-rare-earths-deal-by-70",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T10:44:00.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/rinehart-backed-arafura-expands-us-rare-earths-deal-by-70/"
  },
  "original_language": "en",
  "account": "Gina Rinehart-backed mining company Arafura Rare Earths has expanded its US rare earths supply deal with Traxys North America by 70%, according to a source. The new agreement stipulates that Arafura will provide Traxys with 850 tonnes of neodymium-praseodymium (NdPr) oxide annually, up from the 500 tonnes originally outlined in the May 2026 term sheet. The contract is binding for five years with an option for an additional two years, contingent on mutual agreement. Traxys is among three commodity trading and procurement firms chosen to source and manage materials for a US government initiative aimed at establishing a strategic reserve of critical minerals and safeguarding manufacturers from supply disruptions. Australia is also supporting the project through its A$1.2 billion Critical Minerals Strategic Reserve, which has pledged to buy 500 tonnes of NdPr oxide per year from the Nolans project. Hancock Prospecting, controlled by mining magnate Gina Rinehart, owns a 17.5% stake in Arafura. Nolans, the rare earths project, is being developed as Australia's inaugural integrated ore-to-oxide rare earths operation, featuring a mine, processing and separation facilities, and supporting infrastructure. Construction commenced this month, with initial production anticipated in mid-2029. Arafura estimates the project could meet approximately 5% of global rare earth demand. The company is currently engaging with other potential off-take partners to further develop the Nolans project.",
  "summary": "The Australian government and US buyers have secured supply from the Nolans project targeting first output in 2029.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}