Australian Rare Earths Limited (ASX: AR3) Secures $5 Million Grant
Government Grant Finalised
Australian Rare Earths Limited (ASX: AR3) has finalised its agreement with the Australian Government for a $5 million grant from the International Partnerships in Critical Minerals Program. The company has received the initial instalment of $750,000, with subsequent payments linked to project progress updates.
Koppamurra Project Advancement
The grant funding will support vital work on the Koppamurra Project, including metallurgical testwork, a Pre-Feasibility Study (PFS), and the construction and operation of a Demonstration Plant. This project aims to establish a sustainable supply chain for rare earths, crucial for the clean energy transition.
Financial Commitment
AR3 will match the grant with $5 million of its own funding, bringing the total planned expenditure to $10 million over the next two years. The company aims to complete the activities outlined in the grant agreement by December 31, 2026, with progress reports due every six months.
Executive Remarks
Travis Beinke, Managing Director and CEO, stated, “This grant validates the potential of the Koppamurra Rare Earths Project and underscores its strategic importance in creating sustainable supply chains through international partnerships.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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