Australia's Arafura Rare Earths rises on supply deal

Arafura Rare Earths

13/05/2026 01:26

** Shares of Arafura Rare Earths ARU.AX rise as much as 6.1% to A$0.350, logging their best intraday session since May 1

** Stock hits its highest level since May 8

** Rare-earth miner signs offtake term sheet with Traxys North America, a global physical trader in metals sector

** Co says its unit has signed a deal to supply 500 metric tons per annum of neodymium-praseodymium (NdPr) oxide

** NdPr oxide is a rare-earth material primarily used in electric vehicle (EV) motors and wind turbines

** Stock up 33% this year, including the day's move

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))