Arafura Rare Earths, an Australian mineral exploration company, announced that Hyundai Motor Company has become the main foundation partner for its Nolans project and has signed a major offtake agreement for neodymium praseodymium (NdPr).

The Nolans project was Australia's first vertically integrated rare earth business, with mining and processing all at the same location. The project had gained local and federal government attention and is currently undergoing FFront-End Engineering Design (FEED).

Arafura and Hyundai signed a seven-year offtake agreement to supply 600 tons of NdPr oxide in 2025, the first year of the contract, increasing to 1,500 tons annually in the fourth to seventh years of the contract.

Arafura would begin commercial production and increase capacity by June 30, 2026. The Nolans project was expected to reach 4,400 tons annually in 2027.