Hastings Technology Metals

With a clear focus on developing the world-class Yangibana Rare Earths Project (Yangibana Project), Hastings Technology Metals Limited (ASX:HAS) is well-positioned to become Australia’s next rare earths producer. Located 250km north-east of Carnarvon in Western Australia’s Gascoyne region, Hastings’ flagship Yangibana Project covers a total area of 650 square kilometres and is underpinned by one of the world’s most highly valued deposits of neodymium and praseodymium (NdPr), with an average life of mine NdPr to Total Rare Earth Oxides ratio of 37% and up to 52% in some areas of the orebody. With an initial mine life of 17 years, the Yangibana Project will become a globally significant source of NdPr, a critical component in the manufacture of permanent magnets used in advanced technology products from electric vehicles (EVs) to renewable energy, humanoid robotics, medical applications and digital devices. Fully permitted for first rare earth concentrate production in the first half of 2025, the Yangibana Project is well-timed to meet the forecast supply gap for rare earth elements accelerated by the growth in EVs and wind turbines, both vital for the global energy transition. Hastings will develop the project in two stages with an initial focus on the construction of the Yangibana Project’s mine and beneficiation plant to produce up to 37,000 tonnes per annum of concentrate, followed by the construction of a hydrometallurgical plant with the capacity to produce up to 15,000 tonnes per annum of mixed rare earth carbonate. Hastings has a strategic 20% shareholding in TSX-listed Neo Performance Materials – a leading global rare earth processing and advanced permanent magnets producer – providing the Company with the opportunity to explore the creation of a mine-to-magnet supply chain. Hastings is committed to developing and operating the Yangibana Project in a sustainable manner. The Company’s strong ESG credentials have been subject to independent third-party ESG ratings including ranking in the top five per cent of companies assessed by EcoVadis and fourth out of 159 companies in the 2022 diversified metals mining subindustry category by Sustainalytics. Once developed, the world-class Yangibana Project will establish Hastings as a significant supplier in the global critical minerals sector and generate strong returns for shareholders, investors and for the Australian economy and local communities.