Hastings ups rare earths reserves estimate for Yangibana
(Kitco News) - Hastings Technology Metals (ASX: HAS) announced a significant increase in the Ore Reserve Estimate at its Yangibana Rare Earths Project in Western Australia’s Gascoyne region.
The company said that total Proven and Probable Ore Reserves have increased to 16.7Mt at 0.95% Total Rare Earths Oxide (TREO) including 0.37% Nd2O3 and Pr6O11 (together, NdPr), a 37% increase in Ore Reserve tonnes compared with the previous Ore Reserve Estimate announced in 2019.
Hastings added that new Ore Reserves will allow the company to plan for a mine operating life of at least 15 years. Importantly, the company noted that there remains substantial mineral resource upside potential at Yangibana, which it will further assess in due course.
“This exceptional rare earths inventory increase will underpin our production target of 15,000t per annum of MREC – equivalent to 3,400t of NdPr oxides when separated. There is no comparable rare earths project like Yangibana,” commented Executive Chairman Charles Lew.
Hastings Technology 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.