Hastings Technology Metals Ltd: RE Project - $17.4m Acid-Bake Kiln Contract Advancing

Perth, Australia - Australia's next rare earths producer, Hastings Technology Metals Ltd. (ASX:HAS) (FRA:5AM) is pleased to announce that it has re-activated the Design and Construct contract of the Acid-Bake Rotary Kiln previously awarded to FLSmidth, a global Tier 1 manufacturer of engineering and mining equipment.

Highlights

- FLSmidth a Danish Tier 1 international processing equipment manufacturer, was awarded the Engineering and Supply package for the Acid-Bake Rotary Kiln.

- The $17.4m Acid-Bake Kiln to be constructed at Onslow is the most significant piece of equipment for the Yangibana project and represents the longest lead item in the construction schedule.

- The supply of the kiln supports the current construction schedule and plant commissioning date in 2H 2024.

- Kiln design is well advanced with shell fabrication about to commence.

- The kiln is 75m long and 4m in diameter and is utilised in the downstream processing of rare earths at Onslow.

- The $20m early infrastructure works package continues to gather pace with the clearing of the 300-man village area initiated.

This package marks a major milestone in the commitment to build and operate the Yangibana Rare Earth projects downstream hydrometallurgical processing facility at Onslow.

Detailed Kiln design is substantially complete allowing fabrication of the Kiln shells to commence immediately.

On the back of the recent NAIF debt funding announcement (refer ASX Announcement dated 2nd February 2022 NAIF Approves $140m Loan for Yangibana Rare Earths Project) the re-commencement of this significant package supports the belief and commitment that the Hastings board and project team have in progressing the Yangibana Project.

Andrew Reid, Hastings' COO, said:

"The Acid-Baked Rotary Kiln is an internationally sourced long lead-time item required for the hydrometallurgical plant at Onslow. Hastings has chosen a trusted, industry-leading supplier for the Kiln, and the fabrication of this important piece of equipment ensures that the Yangibana construction can continue to gather pace as we target a 2H 2024 commissioning date."

PROJECT UPDATE

At the Yangibana site, progress of the $20m early works package continues to ramp up with clearing activities on the main access road and permanent village progressing. The early works packages are due to run until the Q3 2022 with the main processing plant construction contract commencing during Q3.

Progress highlights include:

- Access Road (Shire Road to Beneficiation plant) - Vegetation clearing and grubbing now 63% complete.

- 300 Personnel Village - Clearing and grubbing of the site completed with construction package due to be awarded shortly.

- SipHon Borefield water bores and associated monitoring bores - drilling and construction at 50% completion

- Exploration Drilling - 13,334m for 170 holes targeting the 8km long mineralised zone between Bald Hill and Frasers, in close proximity to the proposed beneficiation processing plant site is now complete. First results anticipated in late April due to long laboratory delays.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/LZ0N0V4U

About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd. (ASX:HAS) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.

Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.

Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.

Brockman Project

The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).

The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.

Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.

Source:
Hastings Technology Metals Ltd.

Contact:

Charles Lew Executive Chairman +65 6220 9220 Matthew Allen Chief Financial Officer +61 8 6117 8634 Andrew Reid Chief Operating Officer +61 8 6117 8621 For media and investor queries, please contact: Peter Klinger Cannings Purple +61 411 251 540 pklinger@canningspurple.com.au