Hastings Rare Metals has completed scoping study on its Hastings Heavy Rare Earth project located in the Kimberley region of western Australia.
The scoping study was based on a plant capacity of 1Mtpa, producing critical heavy rare earth oxides of yttrium (Y203) and dysprosium (Dy203) products, in addition to other rare metal products.
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According to the study, the project has a mine-life of 15 years and total heavy rare earth oxide resources of 62,500t.
The project will have a production capacity of 150t of Dy2O3 and 1,000t of yttrium oxide per annum based on 1Mtpa mining rate.
The net present value of the project is in excess of $500m using a discount rate of 10% and an IRR of >20%.
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By GlobalData
