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 economics have been updated, with ore reserves increasing 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
The Northern Australia Infrastructure Facility (NAIF) has increased its financial support for the Yangibana rare earths project.

The NAIF last year approved a A$140-million investment in the construction of the project, with Hastings reporting that this support has increased to A$220-million with a 12.5-year tenor, subject to the completion of conditions.

The increased support from NAIF is in recognition of the global need for rare earth magnets required in the drive towards cleaner and renewable sources of energy.

The NAIF loan represents more than half of the A$400-million of total debt funding required for Yangibana and is aligned with Australia’s Critical Minerals Strategy and the Western Australian government’s Future Battery Industry Strategy.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Hastings Technology Metals, tel +61 8 6117 6118.