Yangibana Project Gains Lead Agency Project Status
Sydney, May 8, 2017 AEST (ABN Newswire) - Hastings Technology Metals Limited (
ASX:HAS) (the Company) is pleased to advise that following the lodgement of its Mine Permitting Applications (MPA) as previously announced on 3rd April 2017, the Yangibana Rare Earths Project (the "Project") has been assessed by the Department of Mines and Petroleum (DMP) as a Lead Agency Project (LAP) under the Western Australian Government Lead Agency Framework.
The Project has been assigned a dedicated and experienced project approvals coordinator within the DMP to provide:
- Project specific approvals advice;
- Coordination of approvals across other WA Government agencies during the pre-submission and submission stages of the Company's project proposal; and
- Project approval scoping sessions with relevant agencies to help identify potential "show stoppers" or "bottlenecks" in the decision-making process.
Hastings' Yangibana Rare Earths Project status as a LAP will be published on the DMP website thereby providing the Project with an increased level of co-ordinated support from the various WA Government agencies and will help to expedite the MPA.
Charles Lew, Executive Chairman of Hastings commented that "the Lead Agency Project status strengthens the Company's commitment to building a mine and rare earths processing plant in the Gascoyne region which will provide hundreds of jobs in the area. We would like to thank the DMP and all those involved in assisting us to gain this LAP status. We are working hard on finishing our DFS soon and to meet our objective of getting into production by late 2019."
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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