https://www.engineeringnews.co.za

Hastings raises more cash for rare earths project

21st August 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Rare earths developer Hastings Technology Metals will raise some A$15.5-million through a share placement.

The company said on Monday that some 77.5-million new ordinary shares would be placed at a price of 20c each, under the company’s current capacity.

The funds raised would be used for infrastructure works at its Yangibana rare earths project, in Western Australia, prior to processing plant construction. This work would include the construction of the access road, acquisition and commissioning of an accommodation camp and preliminary engineering design work on the production plant.

A previously completed prefeasibility study into the Yangibana project, in Western Australia, forecast that the mine could produce some one-million tonnes a year of ore, starting in 2019, with a mine life of seven years.

The project is expected to require a capital investment of between A$390-million and A$420-million.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.908s - 140pq - 2rq
Subscribe Now