Name and Location
Yangibana rare earths project, Australia.

Client
Hastings Technology Metals, previously Rare Earth Minerals.

Project Description
An updated scoping study on the Yangibana project has shown the compelling financial viability of the project.

The study focused on the production of separated oxides of the rare earths neodymium, praseodymium, dysprosium, europium, with lesser gadolinium and samarium, and additional rare earths potentially being considered for processing at a later date if suitable markets and opportunities are identified.

Current indicated and inferred resources at the project are estimated at 12.36-million tonnes grading 1.07% total rare-earth oxides (TREOs).

All resources included in the proposed mine plan are from the current indicated resources.

The updated study proposes mining the Bald Hill South, Fraser’s and Yangibana North/West deposits using standard truck-and-shovel methods.

The three optimised and modelled pits supply, therefore, just over seven-million tonnes of mining inventory at an average grade of 1.15% TREO to the processing plant. The pits will extract 73.3-million tonnes of material at an average stripping ratio of 9.4:1.

The mined ore will be fed to a crushing plant for size reduction prior to milling to reduce the feed to the required sizing for the flotation processing.

Hastings has completed preliminary beneficiation testwork, which indicates that, at a plant throughput rate of one-million tonnes a year, a flotation plant can achieve a 95.5% reduction to 45 000 t/y of concentrate from the Bald Hill South and Fraser feeds, and a 93% reduction to 70 000 t/y of concentrate from Yangibana feed, with recoveries of 85% of the contained rare earths. The subsequent hydrometallurgical plant leaches the 45 000 t/y or 70 000 t/y of concentrate to extract the target rare earths.

Net Present Value/Internal Rate of Return
The project has a base case net present value, at a 10% discount rate, of A$711-million and an internal rate of return of 52%, with a payback after construction estimated at 1.5 years.

Value
Capital expenditure is estimated at $411-million.

Duration
Not stated.

Latest Developments
All aspects of the prefeasibility study are progressing on schedule and within budget, with completion expected in the first quarter of 2016.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Hastings Technology Metals, tel +61 2 8268 8689, fax +61 2 8268 8699 or email info@hastingstechmetals.com.