Project Director Appointed for Yangibana Rare Earths Project
Sydney, May 12, 2017 AEST (ABN Newswire) - Hastings Technology Metals (
ASX:HAS) (Hastings or the Company) is pleased to announce that it has appointed Mr. Kok Hoong Leong as Project Director for the Yangibana Rare Earths Project.
Mr. Leong, a qualified engineer with over 30 years' experience, was previously the Senior Project Manager for Lynas Malaysia/Lynas Corporation (ASX:LYC) responsible for the engineering, procurement, construction and commissioning of two brownfields rare earths processing plants in Kuantan, Malaysia and at Mt Weld, Western Australia with a total capital cost of A$240 million.
Mr. Leong has also worked with Petroliam Nasional Berhad (Petronas), as project manager for two petrochemical plants and held senior roles in a number of its subsidiary and joint venture companies. He holds a Bachelor of Science (Honours) degree in Electrical Engineering from Leeds University.
Charles Lew, Chairman, commented "we are pleased to have an engineer of Mr. Leong's calibre and experience on board as we move towards completion of the Definitive Feasibility Study and enter the engineering design, procurement and construction phase of the project. Mr. Leong successfully managed a similar rare earths project at Lynas phase 2 which was completed on time and on budget".
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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