Hastings’ Rare Earth Development Begins

This story features HASTINGS TECHNOLOGY METALS LIMITED. For more info SHARE ANALYSIS: HAS

By Greg Peel

Lynas ((LYC)) is well out in front of the Australian commercial rare earth industry, and is indeed now tussling fro number one position globally with US peer Molycorp since its Malaysian processing facility has been given the go-ahead. Further back down the time-scale are local hopefuls Alkane ((ALK)) and Arafura ((ARU)) and behind them in initial development stage is little-covered Hastings Rare Metals ((HAS)).

What sets Hastings apart is its very high proportion of heavy rare earth oxides contained in its resource which will remain the most highly sought after and least substitutable of all rare earths and similarly rare metals. FNArena first introduced Hastings in last July's feature Make Mine Rare with a follow-up in December's Rare Earths Overcooked.

Hastings has just announced the appointment of NYSE-listed leading project manager and engineering firm Jacobs Engineering Group as manager of the Hastings heavy rare earth oxide (HREO) project in northern Western Australia. Jacobs technical team has worked in the field of rare earths for a number of years and will undertake the metallurgical and scoping study, which is targeted for completion by August, to take it through to the pre-feasibility stage. 

Hastings has also engaged the assistance of the Australian Nuclear Science & Technology Organisation (ANSTO) which has expended to become a world leader in rare earth technology. ANSTO has worked previously with all of Lynas, Alkane and Arafura.

“I could not imagine a team of process and project engineers better qualified, experienced and motivated than the group now together for the Hastings Project,” suggested Hastings technical director Steve Mackowski in the company's ASX announcement. “I look forward to the completion of these stages and moving forward to the Pre-Feasibility/Bankable Feasibility stages”.

The team will review previous studies, validate previous flow sheets, optimise the product suite for a focus only highly valuable yttrium and dysprosium, develop the process design, and review and update the scoping study on the basis of capital and operating cost estimates. Hastings will provide regular updates on the progress of each stage. 

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