- Rare miner Hasting Technology received late last month environmental approval for developing its Yangibana project in WA
- During a two-week period, no appeals were lodged against it according to the WA Appeals Registrar and the Environmental Protection Authority
- The Yangibana project will be focused on mining neodymium and praseodymium – vital components for manufacturing high quality magnets in wind turbines, electric vehicles, medical devices and more
- In 2012, consultants Snowden Mining surveyed Yangibana to hold 8,273,000 tonnes of ore
Rare earth miner Hastings Technology is in the clear to develop its newest WA project after the environmental approval process has had no speed bumps.
The company revealed in an ASX media release today the WA Appeals Registrar notified Hastings that no appeals against the project had been made.
Development of the Yangibana project has been speedy, with the site gaining environmental recommendation of approval late last month. This recommendation was awarded by the Environmental Protection Authority.
During this two week period of approval, no official appeals against the project were lodged.
The rare earths Yangibana Project, located in Upper Gascoyne WA, will be focused on extracting neodymium and praseodymium. The company says a production date is not far off as it braces to ship the rare earths overseas for treatment.
Neodymium and praseodymium are vital components for the manufacturing of high quality magnets. These magnets are used in electric vehicles, wind turbines, robotics, medical devices and more.
“This news is pleasing to us as it represents overall public support for the project and the comprehensive nature of the environmental impact assessment,” Hastings Executive Chairman Charles Lew said.
Yangibana holds five open pit mines. Third party consultants Snowden Mining stated in January Yangibana holds 8,273,000 tonnes of ore.
Currently, Hastings holds 100 per cent interest in the project and will hold 70 per cent on deposits developed at a further date.
“We will continue to provide feedback on the draft conditions (as requested) and are excited to see the environmental approval progress towards Ministerial approval,” Charles concluded.
Share prices in HAS are the same as yesterday’s close, 14.5 cents. The company’s market cap is currently valued for $132.9 million.