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Hastings Technology Metals and Twiggy Forrest owned JV partner Wyloo Gascoyne Pty Ltd have inked an agreement with Canadian processor Ucore Rare Metals to potentially supply and process their rare earths in the US. The JV parters who jointy own the massive Yangibana rare earths project in Western Australia, have inked a non-binding heads of agreement with Ucore to map out long-term concentrate supply and a potential US hydromet downstream processing plant. Under the terms of the proposed deal, the Yangibana joint venture (Wyloo 60:40 Hastings) can potentially ship up to 37,000 tonnes a year of mixed rare earths concentrate straight into Ucore’s Louisiana pipeline once the fully permitted West Australian operation fires up. Under the deal the parties will jointly size up the numbers for a downstream acid-bake hydromet facility in the US, or potentially lean on an existing qualified plant to turn Yangibana concentrate into mixed rare earth carbonate. The JV’s own proprietary flow sheet will mesh with Ucore’s RapidSX separation kit. The pact lines up with the new Australia-US critical minerals framework and gives Yangibana a direct feed of its neodymium-praseodymium (NdPr) rich product into the North American permanent magnet supply chain. The agreement remains non-binding, but paves the way for a binding contract targeted for July next year – timed to match Yangibana’s construction ramp up and potential first production. A cornerstone of the arrangement is a feasibility study into a Louisiana hydromet plant to upgrade the concentrate, which will kick off immediately to check if the numbers stack up. Ucore says it will guide the Yangibana JV on all things financing, import permits and environmental approvals. We are delighted to partner with Ucore on this strategically important HoA. This agreement represents a major step forward in de-risking the Yangibana Project by securing a pathway to a long-term offtake partner in the key North American market. Yangibana is one of the world’s most advanced, shovel-ready rare earth projects with amongst the highest distributions of NdPr of any known deposit. This agreement is an important step in Ucore securing a fully aligned mine-to-oxide supply chain across trusted jurisdictions. The Yangibana rare earths project is a rare fully permitted turn key opportunity, with most mine infrastructure in place and beneficiation plus hydromet gear already bought and ready for assembly. The initial 17-year mine life will churn out 37,000 tonnes a year of concentrate from it NdPr-rich resource, making it a key supply option for Western critical minerals manufacturing. Yangibana’s geological model also flags scope for ferro-columbite and hafnium-enriched zircon recovery alongside the rare earths stream, adding a potential by-product scheme alongside its already crucial NdPr. Ucore Rare Metals is an emerging US separation technology company that is building its first strategic metals complex in Alexandria, Louisiana, with plans for multiple of its proprietary RapidSX plants across North American. The heads of agreement was signed at the G7 Energy and Environment Ministers Meeting in Toronto. With offtake talks now anchored in a key allied market and a clear downstream study ahead, Hastings and Wyloo have sharpened their path to rare earths cash flow. As the US-Australia framework kicks in and political forces are brought to bear, Yangibana looks well placed to capitalise on the new geo-political global environment where all the big players are seeking critical mineerals. And with 18 years under his belt as a well known former West Australian politician, Hastings CEO Vince Catania is likely well placed to navigate that environment as Yangibana edges ever closer to production. Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au
