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 -