PERTH (miningweekly.com) – Rare earths developer Hastings Technology Metals has reported a 25% increase in the ore reserve at its Yangibana project, in Western Australia.
The project’s total proven and probable ore reserve has now increased to 20.93-million tonnes, up from the 16.7-million tonnes previously estimated, at 0.90% total rare earth oxide, which includes a 37% component of neodymium-praseodymium (NdPr).
"We are delighted to announce this significant increase in the ore reserves at Yangibana, which is the result of our successful exploration programmes over the last two years across existing deposits. It allows us to plan for a mine operating life of at least 17 years, building on Hastings' strong record of organic growth from one of the most outstanding rare earths orebodies globally based on NdPr composition,” said Hastings CEO Alwyn Vorster.
“Importantly, there remains substantial mineral resource upside potential at Yangibana, offering growth potential as approvals are secured in the future. This ore reserve increase further underpins our current design capacity of 15 000 t/y of mixed rare earth carbonates, equivalent to 3 400 t of NdPr oxides when separated and is another key milestone in building momentum towards a funding solution to support main construction of the project in 2023.”
The growth in the ore reserve is based on drilling, assaying and optimisation work from the 2021/22 exploration programme as well as the completion of the acquisition of the 30% Yangibana joint venture interest from Cadence Minerals announced in January this year.