Australia markets close in 3 hours 10 minutes

Hastings Technology Metals Ltd (ASX:HAS) Works Permit Granted To Construct Yangibana RE Process Plant

Perth, Australia, June 17, 2020 - (ABN Newswire) - Hastings Technology Metals Limited (ASX:HAS.AX - News) (HAM:5AM.HM - News) has received a works permit to construct the Yangibana Rare Earths Project (Yangibana Project) process plant under Part V of the Environmental Protection Act 1986 (Western Australia).

Following a rigorous assessment process and a public advertisement period, the Department of Water and Environmental Regulation (DWER) has issued a works permit subject to conditions for a number of prescribed facilities (i.e. facilities that emit pollutants) at the Yangibana Project including:

Category 5: Process or beneficiation of metallic or non-metallic ore

Category 6: Mine dewatering

Category 52: Electric power generation

Category 64: Class II or III putrescible landfill site

Category 73: Bulk storage of chemicals etc.

Category 85: Sewage facility.

Of these facilities, the process plant (Category 5 under Schedule 1 of the Environmental Protection Regulations 1987) and the associated tailings storage facilities are the most important. The conditions include design and construction requirements, pollutant emission limits, monitoring requirements and compliance reporting.

The Yangibana Project includes the development of five open pit mines, groundwater abstraction, on-site processing of ore, tailings storage facilities, and supporting infrastructure such as access and haul roads, accommodation facilities, administration buildings and an airstrip.

The company is working on satisfying the approval conditions and when completed, the work can commence subject to financial close for the Yangibana project.

Andrew Reid, Chief Operating Officer commented: "While Hastings has received State and Commonwealth environmental approvals, the additional focus and rigorous nature of this approval process on polluting facilities such as the process plant provides us and our shareholders with further confidence that the Yangibana Project is able to meet the high regulatory standards set by the Western Australian (WA) government. The regulatory standards set by the WA government also provide the international community and our major offtake customer, Schaeffler Technologies AG with assurance that the extraction component of the rare earths supply chain is undertaken in an environmentally responsible manner."


About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd (ASX:HAS.AX - News) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.

- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.

- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.

- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.

- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.

Contact:

Charles Lew
Chairman
T: +65-9790-9008 /+61-8-6117-6118

Valerie Quay
Legal Counsel and Business Planning
T: +65-9781-3220

Source:

Hastings Technology Metals Ltd

Copyright (C) 2020 ABN Newswire. All rights reserved.