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Yangibana Project Gains Lead Agency Project Status
Yangibana Project Gains Lead Agency Project Status
Sydney, May 8, 2017 AEST (ABN Newswire) - Hastings Technology Metals Limited (ASX:HAS) (the Company) is pleased to advise that following the lodgement of its Mine Permitting Applications (MPA) as previously announced on 3rd April 2017, the Yangibana Rare Earths Project (the "Project") has been assessed by the Department of Mines and Petroleum (DMP) as a Lead Agency Project (LAP) under the Western Australian Government Lead Agency Framework.

The Project has been assigned a dedicated and experienced project approvals coordinator within the DMP to provide:

- Project specific approvals advice;

- Coordination of approvals across other WA Government agencies during the pre-submission and submission stages of the Company's project proposal; and

- Project approval scoping sessions with relevant agencies to help identify potential "show stoppers" or "bottlenecks" in the decision-making process.

Hastings' Yangibana Rare Earths Project status as a LAP will be published on the DMP website thereby providing the Project with an increased level of co-ordinated support from the various WA Government agencies and will help to expedite the MPA.

Charles Lew, Executive Chairman of Hastings commented that "the Lead Agency Project status strengthens the Company's commitment to building a mine and rare earths processing plant in the Gascoyne region which will provide hundreds of jobs in the area. We would like to thank the DMP and all those involved in assisting us to gain this LAP status. We are working hard on finishing our DFS soon and to meet our objective of getting into production by late 2019."


About Hastings Technology Metals Ltd

Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is currently developing a rare earths mine and processing plant at Yangibana in the Gascoyne Region of Western Australia. The processing plant is anticipated to commence production of MREC in late 2019. Hastings has completed both beneficiation and hydrometallurgy pilot plants, in the process producing MREC samples which are high in neodymium and praseodymium content. These are critical materials for the production of permanent magnets and other technology applications. The MREC will be capable of being further separated and refined to produce a number of individual rare earth oxides outside of Australia. Hastings estimates an annual production quantity of 15,000 tonnes of MREC which it will sell to offtake partners globally.

 


Contact

Charles Tan
Chief Operating Officer
M: +61-457-853-839

Aris Stamoulis
Director Corporate Finance
M: +61-455-105607



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