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
Hastings Technology Metals has awarded a A$210-million engineering, procurement and construction (EPC) contract to GM Engineering Services. The contract covers the beneficiation plant, with first concentrate delivery scheduled for the first quarter of 2025.

Key Contracts, Suppliers and Consultants
GM Engineering Services (EPC).

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