Hastings Technology Metals is working on raising funds to develop the Yangibana rare earths project in Western Australia. They aim to raise $15.5 million and the funds would be used for infrastructure works at Yangibana prior to processing plant construction.
This will include construction of the Yangibana mine site access road, acquisition and commissioning of an accommodation camp and the preliminary engineering design work on the production plant.
Rare earths are critical in the manufacture of a wide variety of consumer and industrial technologies ranging from flat-screen televisions to hybrid cars, wind turbines and military hardware.
Yangibana is 270 kilometres east-northeast of Carnarvon in WA’s Gascoyne region.