Australia's Arafura Rare Earths soars on $533 mln debt package

Arafura Rare Earths

14/03/2024 03:03

** Shares of Arafura Rare Earths  ARU.AX  rise as much as
59.3% to A$0.235, set for best day since Oct. 14, 2008, if gains
hold     
    ** Rare earths producer says Commonwealth govt has approved
a $533 million debt finance package to support co's Nolans
Project, a rare earth ore to oxide mine and processing facility
in the Northern Territory    
    ** Stock at highest level since Oct. 25, 2023    
    ** 24 mln shares change hands, compared with the 30-day
average volume of 5.7 mln    
    ** ARU down 10.6% YTD, as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))