Australian Rare Earths Limited has secured an AU$ 5 million grant from the Australian Government

Australian Rare Earths Limited (ASX: AR3) has finalized an AU$5 million grant agreement under the Australian Government's International Partnerships in Critical Minerals Program. An initial grant instalment of AU$ 750,000 has been received, and the grant work program is set to commence in January 2025.The funding highlights the strategic importance of the Koppamurra Rare Earths Project in supporting resilient and sustainable critical minerals supply chains through strong international partnerships. It will enable metallurgical test work, the completion of a Pre-Feasibility Study, and the construction and operation of a demonstration Plant to advance the project and mitigate development risks.

AR3 will match the grant funding, committing a planned expenditure of AU$10 million over 2025 and 2026. Additionally, some of AR3's matched financing may qualify for the Australian Government's Research and Development tax incentive, further enhancing project feasibility and economic returns.

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