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Perth, Australia – Australia’s next rare earths producer Hastings Technology Metals Limited welcomes the announcement by the Federal Government today of its Resources Technology and Critical Minerals Processing National Manufacturing Priority road map. The road map is underpinned by the Federal Government’s commitment to leverage Australia’s world-leading critical minerals and resources sector to create more jobs …

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Limited (ASX:HAS) (FRA:5AM) welcomes the announcement by the Federal Government today of its Resources Technology and Critical Minerals Processing National Manufacturing Priority road map.

The road map is underpinned by the Federal Government’s commitment to leverage Australia’s world-leading critical minerals and resources sector to create more jobs and economic opportunities for manufacturing businesses with the release of a new 10-year plan. The release of the road map also coincided with the opening today of applications for the Government’s $1.3 billion Modern Manufacturing Initiative (MMI).

As the developer of the Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region, Hastings applauds the Government’s approach towards Australia’s world-class rare earths minerals endowment and, in particular, comments from the Minister for Resources, Water and Northern Australia The Hon. Keith Pitt “to bring on new supplies of critical minerals and developing this emerging sector to meet growing global demand”.

Hastings is finalising additional offtake deals and advancing on its debt financing, including with the Northern Australia Infrastructure Facility (NAIF). The Company intends to commence early infrastructure activities at the Yangibana mine site in the June 2021 Quarter.

Yangibana’s proposed production of 15,000 tonnes per annum of a mixed rare earth carbonate (MREC) is an intermediate product that is sought-after by its German customers to form part of the European supply chain. The Yangibana MREC, when separated, is equivalent to 3,400tpa of neodymium and praseodymium (NdPr), representing approximately 7% of the current global volume of NdPr oxides.

Commenting on the Federal Government’s critical minerals roadmap, Hastings’ Executive Chairman Charles Lew said:

“Australia has a unique natural advantage because of world-class rare earths mineral resources such as the ones at our Yangibana project.

“Hastings’ discussions with our German offtake customers underpin Australia’s position to play a major role in ensuring a high-quality, stable and secure supply of these critical minerals needed to transition to a clean energy environment.

“The Federal Government’s commitment to assisting Australia’s rare earths industry deliver on its potential is therefore most welcome.”

Hastings is assessing its eligibility to apply for a MMI grant under the Manufacturing Translation Stream and/or Manufacturing Integration Stream, based on Yangibana’s scale, the world-class quality of its mineral resource and the jobs and capital investment potential across regional Western Australia.

In the meantime, Hastings is continuing work on Yangibana’s Mineral Resource update and finalising the selection of a location on the Pilbara coast to host the Yangibana project’s hydrometallurgical process plant.

Hastings has set 29 March 2021 as the date for its Extraordinary General Meeting at which shareholders will be asked to approve the second tranche – $43.5 million – of a $100.7 million equity raising (see ASX announcement dated 22 February 2021).

About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd (ASX:HAS) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.

Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.

Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.

Brockman Project

The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).

The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.

Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.

Source:
Hastings Technology Metals Ltd

Contact:
Charles Lew
Chairman
T: +65-6220-9220 /+61-8-6117-6118

Andrew Reid
Chief Operations Officer
T: +61-487-888-787

News Provided by ABN Newswire via QuoteMedia

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The technology sector currently contributes about AU$167 billion to the Australian economy, according to research commissioned by the Technology Council of Australia. This figure has increased by 79 percent from 2016, representing a growth rate that is more than four times that of most industries. In fact, the tech sector is the third largest economic sector in Australia, behind mining and finance/insurance.

Unsurprisingly, many tech stocks on the ASX have performed well in this landscape.


Below the Investing News Network profiles the five best ASX technology stocks in terms of share price performance in 2021. Data for the companies was gathered on December 31, 2021, using TradingView’s stock screener, and all of the best ASX technology stocks listed had market caps above AU$10 million at that time.

1. Novonix

Market cap: AU$4.45 billion; year-to-date gain: 659.5 percent

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In December, Novonix announced preliminary results from an environmental impact study; they show the company’s synthetic graphite EV and energy storage system (ESS) battery anode product offers an approximate 60 percent decrease in CO2 emissions, potentially making it “2.5 times better for the environment than Chinese synthetic graphite EV and ESS battery anode material,” as per the Market Herald.

2. Oneview Healthcare

Market cap: AU$114.57 million; year-to-date gain: 488.89 percent

Oneview Healthcare’s (ASX:ONE) interactive software platform offers digital tools to healthcare providers, patients and families to improve point of care outcomes.

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3. Emyria

Market cap: AU$105.86 million; year-to-date gain: 318.48 percent

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4. PlaySide Studios

Market cap: AU$445.38 million; year-to-date gain: 139.13 percent

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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The three top cobalt-producing countries worldwide are the Democratic Republic of Congo, Russia and Australia — the last of which is investing in ramping up its production of the metal.

With that in mind, which Australian cobalt miners gained the most value in 2021? Read on to learn more about the three best cobalt companies on the ASX by year-to-date share price gains. All information was obtained on December 30, 2021, using TradingView's stock screener.

1. Jervois Global

Year-to-date gain: 63.89 percent; current share price: AU$0.59

Jervois Global (ASX:JRV) is best known for its Finland operations, which produce cobalt for chemical, catalyst, pigment, powder metallurgy and — most significantly — battery applications. The company is currently in the process of launching its new Idaho Cobalt Operations (ICO) and is on track to become the first US cobalt miner.

On December 15, Jervois announced an update on ICO, saying first ore is expected in August 2022, with sustainable production expected by December 2022. The estimated capital expenditure required to stay on schedule has risen to US$99.1 million, up from US$92.6 million, with mine engineering 64 percent complete.

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Year-to-date gain: 177.78 percent; current share price: AU$0.50

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Year-to-date gain: 31.25 percent; current share price: AU$0.21

Australian Mines (ASX:AUZ) is aiming to supply metals to the growing EV industry, with a focus on ethical and sustainable production. Its flagship Queensland-based Sconi nickel-cobalt project boasts a mine life of over 30 years and will be capable of processing 2 million tonnes of ore annually.

In late October, Australian Mines reported on its quarterly activities, including an agreement for Korea-based LG Energy Solution, a top global producer of EV batteries, to buy 100 percent of the Sconi project’s nickel-cobalt hydroxide output over an initial six year term. The future agreement indicates that LG Energy Solution will buy a projected 7,000 tonnes of cobalt from Australian Mines over the six year period.

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Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.