Hastings Technology Metals (ASX: HAS; Hastings or the Company) is pleased to announce the release of its Definitive Feasibility Study (DFS) for the Yangibana Rare Earths Project (the Project) in Western Australia. The Project will produce a Mixed Rare Earths Carbonate (MREC) rich in Neodymium (Nd) and Praseodymium (Pr), critical materials used in the manufacture of permanent magnets, which are found in electrical components of many new technology products, from electric vehicles (EV), renewable energy wind turbines and electronic consumer products.
The DFS demonstrates attractive economics using conservative price projections for the key rare earths of Nd-Pr which the company anticipates will have solid demand based on the strong trending growth of EV and wind turbines in particular, as well as other technological innovations. The DFS furthermore demonstrated the technical viability of the Yangibana flow sheet.
Mr. Charles Lew, Executive Chairman of Hastings, said:

“We are very pleased that the DFS demonstrates the Yangibana project to be economically and technically viable and Hastings is focused on becoming the second source of Nd-Pr supply from Australia. We have already signed three MOUs with Chinese customers and we have ongoing discussions to sell our MREC to customers worldwide.”

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