EXPLORATION & DEVELOPMENT

Hastings sees 12-year life

Hastings Technology Metals has boosted ore reserves for Yangibana rare earths by 34%

Staff reporter

This article is 6 years old. Images might not display.

Probable ore reserves now stand at 10.35 million tonnes at 1.22% total rare earth oxide, including 0.43% neodymium and praseodymium.

The increase extends the proposed mine life at Yangibana by three years to 12 years.

It also increases the net present value to A$516 million.

The project also has an internal rate of return of 32% and payback period of two years.

Capital costs are expected to be $335 million.

German bank KFW-Ipex Bank has been appointed to provide up to $250 million in debt facilities.

Hastings said it was in discussions with a range of equity investors in Australia and Asia to raise a further $100 million, which is expected to be carried out in the next six months.

Shares in Hastings were unchanged at 16.5c, valuing the company at $128.3 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.