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.
Alcoa also saw a significant surge in its share price, contributing to the overall positive market sentiment.
Arafura Resources
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.
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Author's summary: Australian shares rise due to mining sector gains.