SYDNEY — Australia’s government will inject a further 200 million Australian dollars ($123.7 million) into miner Arafura, bringing its support for the company’s rare earths mine and refinery project to more than AU$1 billion.
Arafura on Wednesday announced it had signed a binding term sheet for AU$200 million in unsecured convertible notes with the government’s National Reconstruction Fund, a AU$15 billion investment fund set up to diversify and upgrade the economy. Convertible notes are a type of loan that can be repaid in shares.
