Hastings Technology Metals Ltd: Site Works Commence at Yangibana Rare Earths Project
Perth, Australia - Australia's next rare earths producer, Hastings Technology Metals Ltd. (ASX:HAS) (FRA:5AM) is pleased to announce that personnel and equipment have mobilised to the Yangibana Rare Earths Project site in readiness for early infrastructure and earthworks activities.Highlights
Hastings has mobilised personnel and equipment to the Yangibana Project site to commence early works on selected infrastructure.
- Focus over this first period of construction is;
o Access roads connecting the Mine Site to the public Shire roads;
o A 2,000m long airstrip capable of accommodating aircraft up to 50 seat capacity;
o A 300-bed accommodation village;
o A multi-tower communications microwave link to connect the site to the public network;
o Water reticulation from the borefield to the processing plant; and
o Ongoing geotechnical activities.
- Works form part of a circa $20M package of work for site surface infrastructure prior to commencement of plant construction and mine development.
Surface infrastructure development activities have commenced at Yangibana to advance the project towards construction prior to finalisation of key service contracts for the construction of the plant and development of the processing facilities at Yangibana and Onslow where the hydrometallurgical plant will be located.
Infrastructure works that are to commence at Yangibana include the following:
- Site clearing and roadworks - Initial works will focus on various site and access roadworks, topsoil clearing and storage, and ground preparation at the permanent village site.
- Airstrip - earthworks to construct a 2,000m unsealed airstrip in close proximity to the village, capable of accommodating 50-seat aircraft.
- Permanent village construction - design and Installation of a 300-person village, utilising previously procured and re-located buildings already onsite.
- Communications link - dual band, 5 hop microwave link using new and existing 60m towers from site to the north-west highway interconnection to existing public network.
- Water supply from the borefield - connecting already installed bores, drilling new bores, equipping these with pumps, and constructing pipelines / transfer stations to complete the distribution system to the village and process plant.
The above works have been facilitated by the re-establishment of an existing 60-person fly camp at the Yangibana Project site that will be used to house workers until the permanent village is ready for occupation early in 2022.
The early works program is being conducted to support the project scope contained within the previously announced definitive feasibility study ("DFS"). Such a major infrastructure development program at this time has been made possible by a combination of Hasting's strong availability of equity funds and good progress being made with respect to the project financing debt process.
Charles Lew, Hastings Technology Metals' Executive Chairman, said:
"It is hugely exciting to get boots on the ground and a major project milestone for Hastings and our shareholders on a journey that began in 2014 to develop the Yangibana rare earths project.
"Following the highly successful equity raising in February and underpinned by the good progress we are making to secure debt financing, Hastings has had the confidence to commence early infrastructure works at Yangibana.
"The scope of these initial works is being carried out by the Hastings team, a credit to the calibre and experience we have built into our team over the past six months. Getting an early start will allow Hastings to manage the overall timetable to production of our first mixed rare earths concentrate, which contains high levels of neodymium and praseodymium.
"We look forward to updating shareholders as Yangibana takes shape."
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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 Matthew Allen Chief Financial Officer +61 8 6117 8634 Andrew Reid Chief Operating Officer +61 8 6117 8621 For media and investor queries, please contact: Peter Klinger Cannings Purple +61 411 251 540 pklinger@canningspurple.com.au Peter Kermode Cannings Purple +61 411 209 459 pkermode@canningspurple.com.au