Rare-earths firm Arafura to raise capital

Published 10/25/2010, 06:33 PM
Updated 10/25/2010, 06:36 PM

SYDNEY, Oct 26 (Reuters) - Australian rare-earths miner Arafura Resources called a halt to trading in its shares on Tuesday, pending an announcement on plans to raise capital.

Arafura is developing its Nolans deposit in Australia, with tentative plans to start production in 2014.

China has curbed exports of rare earths, causing offshore consumers to consider other supply sources for the minerals used in everything from TV screens and computers to mobile phones and toys. China supplies about 95 percent of the world's rare earths. (Reporting by Mark Bendeich; Editing by Balazs Koranyi)

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