https://www.miningweekly.com

Hastings adjusts Yangibana price

11th March 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Projected capital costs for the Yangibana rare earths project, in Western Australia, have increased from the A$335-million estimated in 2017, to A$427-million, ASX-listed Hastings Technology Metals reported.

The company on Monday said that refinements of the 2017 definitive feasibility study (DFS) had also re-calculated the project’s net present value as A$447-million, compared with the A$466-million previously estimated, with the average annual free cash flow estimated at A$137-million.

“Selection of global Tier 1 equipment suppliers, refinements of the process plant layout and changes to the tailings storage facility give further confidence in the constructability and operatability of the project,” said Hastings executive chairperson Charles Lew.

The one-million-tonne-a-year operation is expected to produce some 15 000 t/y of mixed rare earths carbonate, and around 8 850 t/y of total rare earth oxides over a mine life of around ten years.

Lew noted that subject to the receipt of final approval from the Environmental Protection Authority, construction of the processing facility and other above-ground infrastructure would start in the second half of 2019.

Construction completion is expected in the first half of 2021, depending on the finalization of project financing.

Edited by Creamer Media Reporter

Comments

The functionality 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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION