🕐22.09.10 - 07:00 Uhr

Arafuras Nolans Project Rare Earth mix valuation breaks US$50/kg barrier



ASX: ARU ASX ANNOUNCEMENT 22 September 2010 Arafuras Nolans Project Rare Earth mix valuation breaks US$50/kg barrier on continued RE prices increase Rare Earths prices quoted by Metal Pages, UK have continued to increase in September.

These new prices have pushed the value of 1 Kg of Arafura Resources (ASX: ARU) Nolans Project Rare Earth mix past the US$50 level to US $50.03.

This represents a 313% increase since December 2009 and continues to the trend of historical highs. Rare Earths prices have significantly increased following the announcement by China in July 2010 of reductions in Rare Earth export quotas for the second half of 2010.

Prices of all Rare Earths have increased.

Most recently, the prices of the lighter Rare Earths, Lanthanum, Praseodymium and Neodymium, have increased markedly as demand has remained strong while exports of these from China have been reduced. Dr Steve Ward Arafuras Managing Director and CEO commented "This continuing trend of higher prices due to shortages outside of China underlines the importance of new supply sources and, in particular, of Arafuras 100 percent owned Nolans Project. "We have achieved major milestones in this project recently as we drive forward towards production in 2013.

At these Rare Earth prices our annual sales revenue from Rare Earths alone would be US$1 billion.

We have an exciting future ahead of us." - ENDS - Recent announcements: -Arafura reports successful production of commercial quality separated Rare Earth Oxides (REO)link: http://esp.gewru.com/download/files/12414/1241764/20100913%20-%20SUCCESSFUL%20PRODUCTION%20OF%20RARE%20EARTH%20OXIDES.pdf Arafura selects Whyalla as site for Rare Earths Processing Complex link: http://esp.gewru.com/download/files/12414/1246138/20100917%20-%20ARAFURA%20SELECTS%20WHYALLA%20SITE%20FOR%20RARE%20EARTHS%20PROCESSI.pdf SA Government announces intention to declare Major Project status for Arafuras Whyalla Rare Earths Complex link: http://esp.gewru.com/download/files/12414/1244952/20100920%20-%20SOUTH%20AUSTRALIAN%20GOVERNMENT%20ANNOUNCES%20ITS%20INTENTION%20T.pdf
Visit www.arafuraresources.com.au for information on the Whyalla Rare Earths Complex. Steve Ward Managing Director Arafura Resources Limited T: +61 (8) 6210 7666 Felicity Nuttall Professional Public Relations T: +61 (8) 9388 0944 M: +61 (0)430 184 599 E:
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