Arafura appoints new COO

Gina Rinehart-backed Arafura Rare Earths has appointed Stuart MacNaughton as its chief operating officer, as the company aims to add further value to its flagship Nolans project in the Northern Territory.

Dr McNaughton's arrival follows a busy few months of appointments for Perth-based Arafura, which secured the services of managing director and chief executive officer Darryl Cuzzubbo in February. 

Shaan Beccarelli and Tanya Perry also joined the company's leadership team during the first three months of the year. 

“Attracting a COO with Stuart’s credentials signifies the quality of the Nolans project and Arafura’s growth potential," Mr Cuzzubbo said.

"His expertise in leading diverse teams to deliver complex integrated processing plants is critical to the success of Nolans.

“It has been a pleasure welcoming both Shaan and Tanya to my executive leadership team. They have brought a stepchange in how Arafura executes its corporate affairs, investor relations, environmental management and ESG strategies.

“These appointments signify that Arafura is on the pathway to successfully delivering the Nolans project and ensuring our stakeholders and communities are highly engaged with us."

Last month, Arafura's operations received a timely boost in the form of an $840 million debt financing package from the federal government for Nolans, 125 kilometres north of Alice Springs.

It is hoped first production at the site, which includes a mine and process plant, will occur in 2026. 

Arafura closed trade at 19.5 cents per share.