PRESS RELEASE: The Yangibana project will be Hastings' first rare earths project on the Australian continent, containing substantial neodymium and praseodymium resources. The project currently spans approximately 650km² and is located in the Gascoyne region of Western Australia, some 250km northeast of Carnarvon, and will supply the growing demand for new technology metals.

After completion of a definitive feasibility study (DFS) in 2017, Hastings has now undertaken to develop the Yangibana project further, specifically the vital first phase of the processing plant. The site plot plan has been approved and is ready for detailed engineering and execution to proceed.

The flow sheet for this initial project will comprise of two key elements; beneficiation and hydrometallurgy. This FEED scope of work shall progress the process plant engineering design and place long lead equipment orders to obtain vendor data to progress engineering in critical areas. A further outcome of this scope of work will be to define the requirements for detailed design, procurement, construction and commissioning (EPCM) of the Yangibana rare earths project processing facility.

In addition, this scope of work will progress engineering and update the project cost estimate for the Yangibana rare earths project processing facility. The processing plant has been fast tracked by Hastings, and the first phase is expected to be completed by the end of December 2018.

Greg McRostie, DRA's executive vice president for the Asia Pacific region, said: "Following the completion of a successful DFS, the FEED phase will now allow Hastings and its stakeholders to advance to a much higher level of definition for the processing facilities associated with the Yangibana project. DRA is looking forward to working with Hastings for the first time, as both companies' values and cultures align well, which makes for a strong working relationship."

Hannes Zandberg, project director at Hastings, commented: "DRA brings decades of engineering experience to this project and has a globally proven track record. This has allowed us to set some tight deadlines and although it is a challenge, our close working partnership with DRA inspires confidence. We are certain that this FEED phase will have a successful outcome and will lead to future collaboration on the Yangibana project."