Arafura Resources derives its name from the Arafura Sea, the body of water which lies to Australia's north between the Northern Territory and New Guinea. Arafura Sea comes from the Portuguese mare aurifera, meaning 'sea of gold'. The name dates back to 1623, when shipwrecked Portuguese were said to have seen gold-studded quartz on the coast of Arnhem Land.
In its formative years, Arafura acquired sizeable land packages in geologically prospective areas with known mineralisation, and the areas had little or no modern exploration. The portfolio was assembled to target "company making" prospects. Where possible, they were located in regional proximity for ease of planning. Ground was carefully selected which then enabled the Company to present a balanced and prospective suite of tenements to seed capital investors.
Arafura's sound structure and good prospective ground encouraged people to support this fledgling junior explorer. Wise decisions by the Board in the early life of the Company has allowed for steady growth.
Prior to listing, Arafura had undertaken extensive geological and development work on granted areas and successfully negotiated with the relevant Native Title Councils for access agreements on a number of application areas.
The result was that at the time of listing, Arafura had either title to or applications for some 12,000 km2 of highly prospective ground in the under-explored Northern Territory of Australia.
The Company is now pursuing the wealth that these projects hold. They include:
- Nolans rare earths-phosphate-uranium project.
- Mt Porter and Kurinelli gold projects.
- Hammer Hill base metal joint venture with Mithril Resources Ltd and BHP Billiton.
- Jervois magnetite-vanadium project.
Arafura will work together with our shareholders and employees, respecting and valuing everyone's contribution to the Company and the wider community.
We will work together to be socially responsible in caring for our environment.
Our value is RESPECT.
Relationships - The creation of value through trust.
Environment - Commitment to sustainable development.
Safety - Peace of mind from harm.
Performance - Achieving superior business results.
Ethics - Integrity in the way we do business.
Community - Involving stakeholders and promoting teamwork.
Tolerance - Embracing cultural diversity and indigenous rights.
To prosper and achieve real growth, Arafura will:
- Actively manage and build our portfolio of quality assets.
- Develop these assets into mining operations with superior cash flow.
- Earn the trust of the people directly or indirectly engaged in our business.
- Consistently deliver on commitments.
Our success will be measured by:
- The creation of shareholder wealth.
- Growth into a sustained mining house.
- Our communities valuing our citizenship.
- Investors recognising our value and worth.
Ethics and Conduct
As Arafura's representatives, we will behave in a way that will promote superior standards of ethics in our business dealings. These qualities will create a confident environment where our employees, customers and partners can constructively participate in creating value in our business.
All Arafura directors and employees will comply with the following code of conduct and standards:
- Work together creatively and constructively.
- Act with care, diligence, honesty and integrity.
- Treat everyone with respect and courtesy without harassment.
- Disclose and take reasonable steps to avoid any conflict of interest.
- Use Company resources in a proper manner.
- At all times behave in a way that upholds the good reputation of the Company.
- Always abide by all laws, regulations and acts.
Operations - Nolan
Our short term objectives are focused on ensuring that the Nolans project has all approvals and commercial agreements, enabling us to capitalise on rare earths and phosphate market opportunities.
This will include construction of a rare earths processing plant with a plan for production from Nolans in 2012.
Test work to date has provided significant progress in the definition of the flow sheet required for the engineering of a processing plant to recover:
- rare earths,
- and by-product calcium chloride.
Approvals documents including Notice of Intent (NT Government), Project Referral (Federal Government, Department of Environment and Water Resources) and application for Mineral Lease (NT Government) have been submitted. Responses to these documents will form the basis of an Environmental Impact Statement and Bankable Feasibility Study, targeted for completion by the end of 2009.
Nolans Fact Sheets Mar 2008 (1,230kb)
What others are saying about Arafura and Nolans -
Arafura Resources (Bloomberg Ticker - AFAFF:US) expects the rare earths processing plant at its Nolans Project in the country's Northern Territory to be in production in 2011.
Based on November 2005 figures, the company compared its Nolans resource with some others around the world.
Source: Arafura Resources Limited
Observe the % recovery of REO versus the other companies projects... AMAZING!!!
The above was excerpted from -
Rare Earth Metals Not So Rare But Valuable -
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Rare Earths - IN FOCUS
Underpriced Rare Earth Metals From China Have Created A Supply Crisis
December 6, 2009
China has a policy of predatory pricing, which has allowed it to gain monopoly control over some strategic natural resources such as the rare earth metals. The policy has now backfired as the low revenues to Chinese producers have deprived them of the investment funds they need to not only expand production but also to maintain the production they have.
The result is a massive Chinese environmental problem, which threatens all by itself to cut non Chinese end users off from their only supply.
I wonder if our western institutional investors really understand the key driver for China's rush to "develop" its natural resources. Western investors see greed/profit as the main driver for any production of natural resources anywhere. I think that the Chinese government,which we must remember is the owner of, and licensor of any production of, all natural resources in China, is determined to catch up with western technological progress by whatever means necessary not to make profits but rather to level the cultural playing field. Chinese "entrepreneurs" are not risking their lives and endangering the lives of their fellow countrymen primarily to produce natural resources for export; they are driven by greed, surely enough, but their greed is satisfied by the managers of Chinese state enterprizes who cannot get sufficient raw materials to meet their quotas under the current five-year plan. These managers will pay more than the "contract" price for supplies, because in China failure to meet your goal is the same as failure to do your job, and simply to say that you could not get sufficient supply is merely making excuses, because the same five-year plan that you are not fulfilling says that the natural resource producers will produce enough material to fulfill their part of the plan, and their suppliers of equipment will also produce enough. Those failing to meet their quotas are clearly failing the people... I think we all understand how this type of pressure can lead to environmentally unsound decisions and even to official mines looking away from unscheduled and unsafe production.
The idea that we in the west can compete with this type of thinking by simply looking at such metrics as "return on investment" is at best naive.
I have said before and I will continue to say that the so-called prices set for rare earth metals by Chinese producers at all levels are arbitrary.
When the crunch point comes, and it may come very soon, when there are no rare earth metals to be had in China for export the prices of the rare earth metals will skyrocket and institutional investors will squander billions to re-start the western supply and value chains for the rare earth metals. Western institutional investors simply don't know how to value rare metal resources; they are about to have an expensive lesson.
Let me repeat: I believe that the rare earth metals are underpriced already at the present time, because they represent a Chinese pricing set for the main purpose of keeping the production of the rare earth metals and of their end use products in China to maximize the jobs created by this industry within the domestic Chinese economy.
This situation cannot last much longer, because China itself is running short of rare earth metals due to inefficient production methods, environmental problems, and corruption.