The Arafura Rare Earths share price is up 4.41% to 17.8 cents in morning trade after the rare earths developer released a new offtake update.
The initial contract runs for 5 years, with the potential to extend it to 8 years.
The company also said it remains in discussions with some other parties over more offtake.
Nolans is designed to produce 4,440 tonnes of NdPr oxide each year over a planned 38-year mine life.
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It has been a rough month for Arafura Rare Earths Ltd shareholders, but Friday is bringing some relief.
The Arafura Rare Earths share price is up 4.41% to 17.8 cents in morning trade after the rare earths developer released a new offtake update.
Even with today's rise, the shares are still down around 17% over the past month and 34% since the start of 2026.
According to the release, Arafura has extended an existing binding offtake agreement with a global wind turbine manufacturer.
The initial contract runs for 5 years, with the potential to extend it to 8 years.
Pricing will be in US dollars and linked to independent global earth pricing indexes, including Benchmark Mineral Intelligence or S&P Global Platts North America.
The company also said it remains in discussions with some other parties over more offtake.
The latest offtake deal adds another piece to Arafura's plans to move the Nolans Project from development into construction.
Nolans is designed to produce 4,440 tonnes of NdPr oxide each year over a planned 38-year mine life.
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