Arafura Resources & GE Renewable Energy have signed a non binding memorandum of understanding to jointly co-operate in the establishment of a sustainable supply chain for NdPr central to energy transition. The parties will negotiate a long-term sales agreement for GE to purchase NdPr from Arafura’s Nolans Project in central Australia. The definitive and binding offtake agreement would be subject to key customary conditions being satisfied, includingArafura securing project funding to develop the Nolans ProjectCompletion of construction, development and commissioning of the Nolans ProjectThe MoU also outlines a potential strategic equity investment by GE in Arafura that will be considered and negotiated in due course.The Nolans Project in Australia’s Northern Territory is a globally significant resource for NdPr with the capacity to support a value chain supplying nearly 5% of the global demand over a projected life of mine of 38 years with expansion potential. With its ore to oxide business model that includes waste management certainty, it provides customers with a product supply chain that is both transparent and traceable. Nolans has the potential to create significant employment opportunities and intergenerational change to the region, with projections of new jobs in Australia, including a construction workforce of 620 and 280 ongoing operational roles.Rare earths are essential materials for NdFeB magnets used in EVs and clean energy technologies, with magnets an essential component for the offshore wind industry, consuming over 600kg of NdFeB magnets for every MW of wind turbine generation capacity. A secured rare earths supply for GE de-risks the magnet value chain, provides supply security and supports the growth of the local offshore wind sector.Arafura Resources is an Australian mineral exploration and development company focusing on Neodymium and Praseodymium rare earths. It is headquartered in Perth, Western Australia. The company's flagship project is the Nolans NdPr Project, located in central Australia.