Australia's Arafura Rare Earths gains on NdPr supply deal with Traxys

Arafura Rare Earths

19/03/2025 23:13

** Shares of Australia's Arafura Rare Earths ARU.AX rise 10.8% to A$0.205; hitting their highest since March 29, 2018

** Stock is set for its strongest trading session since November 10, 2016

** ARU says it will supply up to 300 tons of neodymium-praseodymium oxide to Traxys Europe under a new five-year distribution deal

** Neodymium-Praseodymium, or NdPr, is a blend of two rare earth metals of neodymium and praseodymium, used to make powerful magnets for modern technologies

** Adds agreement will help ARU to progress towards its goal of securing 80% of its 4,440 tons per annum NdPr oxide off-take target from the project

** Stock up 78.3% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))