5 June 2026
The Finocchiaro CLP Government and Arafura Rare Earths today signed a statement of Share Commitment for the Nolans Rare Earth Project.
Nolans is the first project granted Significant Project status under the Territory Coordinator Act
The $1.6 billion project is forecast to contribute $25.2 billion to the Territory economy.
The Finocchiaro CLP Government is backing a stronger economy and more local jobs, joining Arafura Rare Earths today to sign a Statement of Shared Commitment for the largest mining investment in Territory history at the Nolans project site.
The historic signing comes less than two weeks after Arafura’s Final Investment Decision for Nolans and only days after the project became the first to receive Significant Project designation under the Territory Coordinator Act.
Chief Minister Lia Finocchiaro said the Nolans project would be one of the most significant economic developments in the history of the NT, forecast to contribute $25.2 billion to the Territory economy over its 38-year life, support more than 600 construction jobs, and create around 350 ongoing operational jobs.
“This project reinforces the important role the Territory will play in Australia’s future. A strong north is a secure Australia.”
“Arafura is a globally significant project that will boost the prosperity of the Territory through a stronger economy and more local jobs, and deliver for Australia and our allies a secure, reliable source of critical minerals and rare earths,” she said.
“Today’s signing by Arafura Rare Earths shows the CLP is getting the investment settings right for industries who share our vision for the NT to be a key partner delivering on growing global and local needs for energy and resources.”
Ms Finocchiaro said the Significant Project designation would provide the project with coordinated government oversight to help move it through approvals processes.
“My Government is sending a clear message that the Territory is open for business and ready to play its role in delivering for Australia,” she said.
The Statement of Shared Commitment formalises a shared commitment to maximise Territory jobs, local procurement, Aboriginal participation, and long-term economic benefits.
It is expected that over the next decade, demand for rare earths for advanced electronics, robotics, and electric vehicles will at least double – and currently 90 per cent of the world’s supply comes from China.
Arafura is construction-ready and anticipates that it can produce 4,500 tonnes in phase one and 10,000 tonnes in phase two – enough for about 10 million electric vehicles.
The Chief Minister said the Nolans project will go from ore to oxide and put the Territory and Australia in a world-leading position as a supplier of rare earths to the US, Europe, and Asia.
“This will also provide critical sovereign capability for our nation and our valued and trusted allies.”
The Nolans Project is the first Significant Project under the Territory Coordinator Act, which was introduced to ensure projects of profound economic significance receive the coordinated support needed to proceed efficiently and effectively.
It will establish the Territory as a key player in the global critical minerals supply chain while also boosting economic opportunities and prosperity in Central Australia and across the Territory.
Arafura’s Managing Director Darryl Cuzzubbo said: “This designation demonstrates Chief Minister Finocchiaro and the CLP Government’s understanding of the vital importance of the Nolans Project from both a regional and global context.
“At Arafura, we have been blessed with a unique ore body that has required us to establish a flexible flow sheet whereby every tonne that leaves our facility is a culmination of Australian science, Australian labour, and Australian industrial capability.
“The Project will not only capture 95% of the rare earths value chain domestically, but it will position the Northern Territory and Australia as a world-leading alternate source of the rare earth elements driving the energy transition and modern and future-facing technologies.
“The project is also expected to generate significant opportunities for businesses across the Territory, particularly in Central Australia, with Alice Springs positioned to play a key role as a logistics, services, and workforce hub during construction and operations.”
Deputy Chief Minister and Minister for Mining and Energy Gerard Maley said the granting of Significant Project status recognised the strategic importance of the Nolans project to the NT and Australia.
“The Territory is open for business, and we are committed to creating the right conditions and settings for major projects like Nolans to proceed, grow our economy, and provide lasting opportunities for future generations,” Mr Maley said.
Territory Coordinator Stuart Knowles said: “The Territory Coordinator Act was created to turn investment into delivery. Today we’re seeing that happen in real time.
“Nolans is the first Significant Project under the Act, and this signing shows investors that the Northern Territory is serious about partnering with industry to create jobs, grow the economy, and deliver long-term benefits for Territorians.
“A $1.6 billion investment driving $25.2 billion into our economy is the definition of profound economic significance.
“The Territory Coordinator Act 2025 is a landmark piece of legislation designed to cut red tape, fast-track approvals, and give major investors absolute certainty in the Territory.”
The designation unlocks a suite of powers under the Territory Coordinator Act 2025 that enable the Territory Coordinator to coordinate and streamline all relevant NT statutory processes affecting the project.
This includes the ability to direct agencies to prioritise, progress, or make decisions on the project’s approvals within specified timeframes, and in limited circumstances, to step in as decision-maker. It means the project gets the focused, coordinated attention its economic importance demands.
About the Nolans Project
Located 135 kilometres northwest of Alice Springs, the Nolans Rare Earths Project is one of the most consequential resource developments in the Northern Territory’s modern history:
Capital investment: A$1.6 billion – by far the largest mining investment ever made in the Northern Territory.Production: 4,440 tonnes of neodymium-praseodymium (NdPr) oxide annually, targeting around 5% of global rare earths demand.Mine life: 38 years (initial), with resource potential well beyond.Integrated design: Australia’s first fully integrated ore-to-oxide rare earths operation – capturing up to 95% of the rare earths value chain within Australia.Construction start: Targeted September 2026, with first production anticipated mid-2029.Port impact: Container movements at Darwin Harbour are forecast to double upon completion of Phase 1.Economic contribution: A$25.2 billion forecast contribution to Gross Territory Product over the project’s 38-year life.
