Hastings's PFS puts price tag on Yangibana
PERTH (miningweekly.com) – A prefeasibility study into the Yangibana rare earths project, in Western Australia, estimated that the project would require a capital investment of between A$390-million and A$420-million, owner Hastings Technology Metals revealed on Friday.
Based on a proposed one-million-tonne-a-year operation, starting in 2019, the project was expected to have a net present value of between A$700-million and A$750-million and an internal rate of return of 40%.
It was proposed that some seven-million tonnes of mill feed would be sourced from the Bald Hill South, Fraser’s, Yangibana West and Yangibana North deposits over a mine life of seven years, with on-site beneficiation and partial hydrometallurgical processing producing a concentrate that could be shipped overseas for separation and refining.
The mine and processing plan would enable Hastings to fast-track its production of separated rare-earth oxides and metals for sale to end-users, the company said, using the subcontractors' manufacturing and engineering knowledge and saving the company the time and expense of developing this capability locally.
Hastings said on Friday that the company would undertake additional work to improve the project economics, as well as compile the documentation required to secure approvals.
The additional work would include additional exploration work, optimising the mine and processing plan and securing offtake partners for the hydromet concentrate and individually separated oxides and metals.
Meanwhile, Hastings has gone into a trading halt ahead of an announcement over a proposed capital raising.
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