Arafura Rare Earths' (ASX:ARU) Nolans project in the Northern Territory received the first "significant project" status under the Territory Coordinator Act 2025, according to a Monday filing with the Australian bourse.

The legislation is designed to expedite planning approvals, while safeguarding native title rights and interests and protecting sacred sites, for projects deemed economically significant to the Territory, the filing said.

The project is anticipated to deliver more than AU$25 billion gross Territory product over an initial 38-year life of mine, per the filing.

Shares rose 2% in morning trade on Monday.