Australia's Arafura Rare Earths rises on securing loan approvals

Arafura Rare Earths

23/07/2024 03:00

** Shares of Arafura Rare Earths  ARU.AX  rise as much as
2.6% to A$0.195, hitting their highest in a week 
    ** The rare earths miner says it has secured remaining
approvals from commercial lenders and export agencies for a
targeted $775 mln senior debt funding and a $80 mln cost overrun
facility 
    ** Co says it is moving closer to a final investment
decision for its Nolans rare earth project in Northern Territory
    ** Stock had risen ~15.2% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))