Hastings Technology Metals (HAS) Diggers & Dealers Mining Forum 2026 summary

Strategic partnerships and project updates

• Closed a joint venture with Wyloo, resulting in a 60% Wyloo and 40% Hastings ownership of the Yangibana project and a refreshed DFS for the flagship asset.

• Evaluated global hydromet plant opportunities to address rare earth processing bottlenecks, focusing on capital efficiency and competitiveness against China.

• Wyloo is currently conducting a sales process for its 60% stake in Yangibana, attracting significant domestic and international interest.

• Yangibana boasts a 20.9 Mt reserve, 37% average NdPr to TREO ratio, and a 19-year mine life, with AUD 160 million already invested in infrastructure.

• Remaining capital required for Yangibana is just over AUD 300 million, with all permits, approvals, and equipment in place for rapid construction.

Hydromet plant acquisition and expansion

• Acquired a modular hydromet plant in Kabin Buri, Thailand, initially designed for 6,000 tpa but expanded to 12,000 tpa mixed rare earth chloride due to strong inbound interest.

• Plant will be the first outside China to accept third-party monazite concentrate, offering rare earth mines a cost-effective processing solution.

• Revised permits and licenses to support expansion, with the plant designed for multiple parallel inputs and lower capital costs than traditional sulfuric acid plants.

• Construction is progressing rapidly, targeting commissioning by end of 2026 and production in Q1 2027.

• Thailand location offers export advantages, a supportive investment environment, and up to a 13-year tax holiday.

Market positioning and future outlook

• Yangibana's high NdPr/TREO ratio and extensive resource base position it ahead of peers, with potential for further mine life extension.

• The Thailand hydromet plant is attracting binding offtake interest and will generate near-term cash flow.

• Conservative pricing assumptions suggest significant upside once production begins.

• The plant's third-party access model reduces capital barriers for other rare earth projects, supporting broader industry growth.

• Ongoing developments at Yangibana and in Thailand are expected to drive a re-rating and future growth.