Australia’s Arafura hits near 3-year high as US EXIM mulls $300 mln support

** Shares of Arafura Rare Earths ARU surge as much as 29.2% to A$0.620, hitting their highest level since March 2, 2023

** Stock’s trading was paused earlier in the day

** U.S. EXIM considering up to $300 mln financing support for co’s Nolans Project in Northern Territory

** Separately, Export Finance Australia announced conditional approval of investment up to $100 million in co

** Around 53.2 mln shares change hands vs 30-day average volume of 27.5 mln shares

** Stock up 378.3% YTD, including the day’s move