Tag: Australian mining explorers

BY ELIZABETH FABRI   NEODYMIUM and praseodymium explorer Arafura Resources has announced it will build a $US80 million separation plant for its Nolans rare earths project in the Northern Territory as opposed to overseas.   The company has been determining the feasibility of the location of the plant for years, with the preferred site originally an industrial estate in South Korea. NT chief minister Michael Gunner said the Government had been working with Arafura throughout the year to secure the plant for the Territory. “Creating local jobs is the Territory Government’s number one priority.   “This announcement is a significant vote of investor confidence in the NT and will contribute to the creation of around 500 construction jobs with 350-370...

BY ELIZABETH FABRI   RIVERSGOLD, Minotaur Exploration, St George Mining, Emmerson, and DevEx Resources were just some of the companies to secure funding as part of the Government’s four year, $100 million Junior Minerals Exploration Incentive (JMEI).   The JMEI, successfully passed by the Senate in March, provides a tax incentive to invest in small exploration companies undertaking greenfields minerals exploration in Australia. It replaces the former Exploration Development Incentive (EDI), and allows mineral exploration companies (with no mining income) to raise capital, and renounce and pass future tax deductions to their Australian resident investors. 46 companies applied for their share in $31.5 million for the 2018/19 income year, up from 23 companies a year prior. Association of Mining and...