Hastings Technology Metals

A significant step forward for the Yangibana Rare Earths and Niobium Project.

Hastings Technology Metals has today released an updated DFS for Stage 1 of Yangibana - conventional open pit mining and a beneficiation plant producing a rare earth concentrate from one of the highest-grade NdPr deposits globally.

Much of the site infrastructure is already in place, and key approvals are secured, positioning the Project toward a Final Investment Decision.

$649M NPV8 | 34% IRR | 2.4-year payback | $333.4M capital cost

Read the full ASX announcement: https://ow.ly/YHlQ50ZmKgO

Hastings Technology Metals has secured a $1 million strategic investment from Malaysian mining group Malaco Mining as the rare earths developer pushes ahead with its broader mine-to-market strategy across Australia and Thailand.
The investment will be made through a placement of 2.74 million fully paid ordinary shares at 36.5 cents each, raising $1M before costs.

Hastings Technology Metals chief executive officer Vince Catania said: “Malaco brings experience across mining and minerals processing, and we welcome their knowledge contribution as we advance our rare earths strategy. We see potential to leverage Malaco’s expertise as Hastings develops its downstream processing capabilities. We look forward to developing our relationship with Malaco over time.”

Full announcement here: https://ow.ly/FQFv50Zg6nz