Yangibana rare earths project to be WA’s second

Hastings Technology Metals’ Yangibana rare earths project is set to join Lynas Rare Earths as Western Australia’s second major producer of critical metals markets currently dominated by China.

The Yangibana project 250 kilometres east of Carnarvon has been granted a $140 million loan from the Northern Australia Infrastructure Facility making it the first Australian rare earths project to receive NAIF funding.

The project aims to be a significant producer Neodymium and Praseodymium, keys to producing the strongest types of rare earth magnets for permanent-magnet motors for electric vehicles, industrial processes and wind turbines, as well as Dysprosium and Terbium.

Neodymium yttrium aluminium garnet (Nd:YAG) lasers are the most widely used lasers in commercial and military applications.

Hastings Technology Metals has signed three Memorandum of Understanding (MOU) offtake agreements, with Qiandong Rare Earths, China Rare Earth Holdings, and Baotou Sky Rock Rare Earth, to sell a total of 6,000 tonnes of Mixed Rare Earths Carbonate (MREC) per annum.

The $650 million project at both the Yangibana mine site and the Ashburton North Strategic Industrial Area (ANSIA) near Onslow aligns with the vision outlined by the WA Government in its Future Battery and Critical Minerals Industries Strategy.

State development minister Roger Cook said: “Today’s announcement is yet another example of how Western Australia is leading the nation in the production and downstream processing of critical minerals.”

Picture: Hastings Technology Metals

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