Quarterly Activities Report
Sydney, April 30, 2019 AEST (ABN Newswire) - Hastings Technology Metals Ltd (ASX:HAS) provides the Company's Quarterly Activities Report.
- The Northern Australia Infrastructure Facility (NAIF) is investigating the potential to provide debt financing for the infrastructure and related costs to the Yangibana Rare Earths Project.
- Board approved revised project capital cost of A$427M
- Second pilot plant test resulted in recoveries 12% higher at 80.1% compared to maiden pilot plant testing in March 2017
- Design and Supply of Rotary Kiln Off Gas Scrubbing Plant awarded to Total Air Pollution Control Pty Ltd (TAPC)
- Design and Supply of SAG Mill awarded to Outotec Pty Ltd
- EPA approval process continues to follow defined path to conclusion, with the assessment report due to be delivered to the EPA board for review in mid-May
- Initial ore sorting test rejected 37% of the mass supplied to the ore sorter, retaining 92.2% of the TREO
- Mal Randall appointed as non-executive director
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About Hastings Technology Metals Ltd
Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) 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.
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.
Hastings Technology Metals Ltd