9 October 2019

Arafura Resources Announces $1.5 Million Tax Refund For R&D Spend

Arafura Resources has announced it has received a $1.5 million tax offset for research and development relating to its Nolans Neodymium Praseodymium (NdPr) project in the Northern Territory.

"The R&D Tax Incentive program is jointly administered by the Australian Government's Innovation and Science Australia and the Australian Taxation Office. It is a targeted program that helps businesses offset a portion of costs relating to eligible R&D activities and innovation, and in Arafura's case it included costs incurred in the design and operation of its flowsheet piloting program during FY2019"

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