Hastings launches PFS for rare earths project
PERTH (miningweekly.com) – The board of ASX-listed Hastings Rare Metals has approved the start of a prefeasibility study (PFS) on the Yangibana rare earths project, in Western Australia.
A scoping study on Yangibana previously estimated that the project could deliver about 2 700 t/y of neodymium oxide, 750 t/y of praseodymium, 40 t/y of dysprosium oxide and 70 t/y of europium oxide.
The project would require a capital investment of about A$390-million, with payback expected within less than two years. The project was also estimated to have a pretax net present value of between A$900-million and A$1.2-billion, and an internal rate of return of 62.5%.
Hastings said on Wednesday that the PFS was scheduled for completion in the second quarter of 2016.
Meanwhile, the company had made application for three mining leases that cover the majority of the Yangibana resource. The mining lease applications were confined within existing exploration licences in which Hastings held varying interests.
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