Hastings adds to Yangibana mine life
PERTH (miningweekly.com) – Rare earths hopeful Hastings Technology Metals has extended the mine life of its Yangibana project, in Western Australia, by two years, with an 18% increase to the project’s ore reserves.
Hastings on Monday reported that the total rare earth oxide estimate for the project had increased by 9%, or 11 900 t, to 138 000 t, while the neodymium and praseodymium oxide estimate had increased by 11%, or 4 800 t, to 49 000 t.
The project’s probable ore reserve tonnage increased by 18%, to 12.2-million tonnes, at 1.13% total rare earth oxide.
The increase in the ore reserve has resulted in the mine life of Yangibana extending to 13 years, resulting in the project’s net present value increasing by 6%, to A$549-million.
Hastings executive chairperson Charles Lew said that with the increase in the mining reserve and the corresponding mine life, Hastings has one of the most exciting rare earths projects among peer companies.
“Importantly, the work completed during 2019 has significantly de-risked the project, thereby delivering a high degree of confidence in our mine scheduling and future production.”
The one-million-tonne-a-year Yangibana operation is expected to produce some 15 000 t/y of mixed rare earths carbonate, and about 8 850 t/y of total rare earth oxides, with Hastings expected to spend some A$517-million to bring the project on line.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation