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    HAS   AU000000HAS0

HASTINGS TECHNOLOGY METALS LIMITED

(HAS)
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Hastings Technology Metals Ltd Onslow Selected for Yangibana RE Hydrometallurgical Plant

08/01/2021 | 05:14pm EDT

Onslow Selected for Yangibana RE Hydrometallurgical Plant

Perth, Australia (ABN Newswire) - Australia's next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is pleased to announce that it has received conditional approval from the WA Government to develop the Yangibana Rare Earths Project's (Yangibana) hydrometallurgical plant in the Ashburton North Strategic Industrial Area (ANSIA), near Onslow on the Pilbara coast.

ANSIA is home to Chevron's Wheatstone and BHP's Macedon gas projects and offers Hastings access to key utilities as well as proximity to a skilled workforce in Onslow and the town's port and airport facilities.

The ANSIA location has access to key connections services required for rare earths processing, such as piped natural gas, sufficient water and power, which are all located within close proximity of the proposed Yangibana hydrometallurgical location.

ANSIA is approximately 430km by road from the Yangibana mine site, ensuring a cost-efficient delivery of a highgrade concentrate from the mine site to the hydrometallurgical plant for final production of mixed rare earth carbonate (MREC) that will have industry high volumes of neodymium and praseodymium, together referred to as NdPr. They are vital raw materials used in the manufacture of permanent magnets for use in electric vehicles, wind turbines and other clean-energy products.

Charles Lew, Hastings Technology Metals' Executive Chairman, said:

"We are delighted and greatly appreciative of the warm welcome received from the Shire of Ashburton, which shares our desire for a long-life and sustainable operation that will generate highly skilled job opportunities in the Onslow area.

"Our focus now is on completing the ANSIA lease agreements with DevelopmentWA and the WA Department of Jobs, Tourism, Science and Innovation as well as finalising Yangibana's CAPEX to factor in the decision - announced in July 2020 - to separate the mining operation from a coast-based hydrometallurgical plant."

Hastings has agreed to all key terms with the West Australian Government's land and development corporation DevelopmentWA with respect to a 78ha parcel of land inside ANSIA and now awaits final board approval by DevelopmentWA in coming weeks.

Securing the land at ANSIA is a key step in the development of Yangibana and will allow Hastings to finalise the project's capital and operating cost structures ahead of the close of financing and the start of construction. The hydrometallurgical plant will generate several hundred jobs during construction and between 50-70 jobs permanently during operations over Yangibana's 15-year life.

To view tables and figures, please visit:
https://abnnewswire.net/lnk/4PROI3PA



About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd (ASX:HAS) 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.

Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.

Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.

Brockman Project

The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).

The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.

Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.



Source:
Hastings Technology Metals Ltd



Contact:

Charles Lew
Executive Chairman
+65 6220 9220

Andrew Reid
Chief Operating Officer
+61 487 888 787

Media and investors:

Peter Klinger
Cannings Purple
+61 411 251 540
pklinger@canningspurple.com.au

Peter Kermode
Cannings Purple
+61 411 209 459
pkermode@canningspurple.com.au
 

© ABN Newswire 2021
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Sales 2021 - - -
Net income 2021 -7,06 M -5,16 M -5,16 M
Net cash 2021 15,5 M 11,3 M 11,3 M
P/E ratio 2021 -52,9x
Yield 2021 -
Capitalization 382 M 280 M 280 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 21
Free-Float 74,7%
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Matthew Gerard Allen Chief Financial Officer
Foon Keong Lew Executive Chairman
Andrew Reid Chief Operating Officer
Steinmetz Jean-Claude Non-Executive Director
Neil John Hackett Joint Secretary & Non-Executive Director