(MENAFN- ABN Newswire)
Hastings Technology Metals Limited (ASX:HAS) (FRA:5AM) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.
This Quarter Highlights:
- DRA Pacific Pty Ltd awarded the Engineering, Procurement and Contract Management (EPCM) Contract for the Yangibana Rare Earths Processing Plant.
- The scope of works under the DRA Pacific Pty Ltd EPCM agreement has an estimated capital value of circa A$350m
- WA Minister for Environment has granted the environmental permit for the Yangibana Rare Earths Project.
- Environmental approval milestone clears the path for remaining permits to be considered leading to construction and development work commencing
- 5c Water Entitlement License Received with an annual capacity of 1.84GL
- Pace of design work continues readying for construction
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/4J5IJ0VK
Hastings Technology Metals Ltd( ASX:HAS ) ( FRA:5AM ) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.
- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.
- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.
- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.
Charles Lew Chairman T: +65-9790-9008 /+61-8-6117-6118Valerie QuayLegal Counsel & Business PlanningT: +65-9781-3220
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