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Hastings Technology Metals enters a binding EPC terms sheet with GR Engineering Services Limited for the delivery of the beneficiation plant and associated infrastructure for the Yangibana Rare Earths Project.
The $210 million EPC contract includes a fixed price component of $180 million for the plant and a provisional component of $30 million for earthworks, with first concentrate delivery in Q1 CY2025.
GR Engineering will commence work immediately under a three-month early works agreement, and the project aims to establish Hastings as a significant player in the critical minerals sector.
Hastings Technology Metals Ltd (ASX: HAS) is pleased to announce an increase in the Ore Reserve estimate at its Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region, of 25% to 20.93 million tonnes.
This includes a 37% component of Nd 2O3+Pr 6O11 (NdPr), and an increase in Total Rare Earth Oxide (TREO) content of 20% to 190.1Kt.
The growth in the Ore Reserve extends mine life to 17 years.