ASX Climbs as Arafura, Alcoa Shares Surge
Australian shares experienced gains, buoyed by strong performances in the mining sector.
Arafura Resources led the charge, with shares jumping 7 per cent following the announcement of a $154 million grant from the Australian government’s critical minerals program.
- Arafura Resources is focused on developing its rare earths project, Nolans, in the Northern Territory.
- The company aims to become a major supplier of neodymium and praseodymium (NdPr) oxide, essential materials for electric vehicles and renewable energy technologies.
Alcoa also saw a significant surge in its share price, contributing to the overall positive market sentiment.
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Author's summary: Market gains driven by miners.