MELBOURNE (June 20): Commodities trading firm Noble Group is set to take a small stake in ambitious Australian rare earths developer Arafura, raising its exposure to strategic minerals critical to high-tech industries and electric vehicles.

In a filing to the Australian Securities Exchange on Thursday, Arafura said that Noble's rare earths subsidiary Talaxis would underwrite A$7.2 million ($6.8 million) of a A$23.2 million share offering. According to Reuters calculations, that would give Talaxis a stake in Arafura of around 8%.

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