Director Appointment
Perth, Dec 21, 2020 AEST (ABN Newswire) - Australia's next rare earths producer Hastings Technology Metals Limited (
ASX:HAS) (5AM:FRA) is pleased to announce the appointment of Mr Bruce McFadzean as a non-executive director of the Company, with effect from 1 January 2021.
Mr McFadzean, a qualified mining engineer, has more than 40 years' experience in the global mineral resources industry and since 2015 has been the Managing Director of Sheffield Resources Limited (ASX:SFX) a mineral sands focussed explorer and developer. He has led the financing, development and operation of several new mines around the world with experience in gold, copper, nickel, diamonds, iron ore and mineral sands.
Mr McFadzean's professional career includes 15 years with BHP Billiton and Rio Tinto in a variety of positions and four years as managing director of successful ASX listed gold miner Catalpa Resources Limited. Under Mr McFadzean's management Catalpa's market capitalisation grew from $10 million to $1.2 billion following the merger to create Evolution Mining Limited.
Charles Lew, Executive Chairman commented, "we are delighted to have a director with Bruce's depth and experience join the Board of Hastings, in anticipation of our commencement of construction of the Yangibana processing plant in 2021. We will continue to strengthen our board and management team as we progress with the aim of getting into production in 2023."
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.
Brockman 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.
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