Highlights
- Tamboran Resources Corporation has entered into a non-binding Letter of Intent (LOI) with a wholly owned subsidiary of Arafura Rare Earths Limited (ASX: ARU) to progress discussions for potential gas supply from Tamboran’s Beetaloo Basin assets to Arafura’s Nolans Rare Earth Project in the Northern Territory.
- Under the agreement, Arafura intends to support the development of Tamboran’s Beetaloo Basin acreage by purchasing 18 – 25 terajoules per day (TJ/d) (~18 – 26 MMcf/d) of gas for up to 10 years.
- Arafura’s Nolans Rare Earth Project is located 404 miles (650 kilometres) south of Tamboran’s Beetaloo Basin acreage. Arafura’s proposed downstream rare earth processing facility is situated adjacent to the existing Amadeus Gas Pipeline (AGP).
- The two parties will work in good faith to negotiate a full form term sheet and definitive form documentation.
To view the full ASX announcement, click here.
Source: Tamboran Resources
