Name of the Project
Yangibana rare earths project.
Location
Western Australia’s Gascoyne region.
Project Owner/s
Rare earths developer Hastings Technology Metals.
Project Description
Yangibana is on track to be Australia’s next new significant rare earths project.
The project’s economics have been updated.
Its ore reserves have increased from 12.2-million tonnes at 1.12% total rare-earth oxides (TREOs) in the 2019 update to 16.7-million tonnes at 0.95% TREOs in the 2022 update.
Production of mixed rare-earth carbonate has remained the same at 15 000 t/y, containing 3 400 t/y of neodymium and praseodymium oxides.
The life-of-mine has increased from 12 years in the 2019 update to 15 years in the 2022 update.
Potential Job Creation
The project will create about 500 jobs at peak construction and 250 jobs at steady-state operation.
Net Present Value/Internal Rate of Return
The project’s net present value, at an 8% discount rate, has increased from $549-million in the 2019 update to $1.01-billion in the 2022 update. The internal rate of return has increased from 21% to 26%. Payback is estimated at 2.7 years from the start of production.
Capital Expenditure
The project’s total capital cost, including contingency, has increased from $516-million in the 2019 update to $658-million in the 2022 update.
Planned Start/End Date
Targeted first production is scheduled for the fourth quarter of September 2024.
Latest Developments
Hastings has marked the first construction blast at the Yangibana project.
The blast represents the start of the next phase of infrastructure development works at the project, towards a target of ore commissioning by the second half of 2024.
“The Hastings team is progressing on many work fronts at Yangibana, ably supported by its trusted contracting partners. Getting the airstrip, communications and accommodation infrastructure is vital to allow for the activation of the large workforce required to commence process plant construction once a final investment decision has been announced.” Hastings COO Andrew Reid has said.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Hastings Technology Metals, tel +61 8 6117 6118.