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, ultimately acquiring a facility in Thailand to address rare earth processing bottlenecks.

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

• Yangibana project features 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 lower capital costs and multi-source feedstock flexibility.

• Revised permits and licenses to support expansion, with the plant expected to generate additional revenue streams from byproducts.

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

• Thailand location offers export advantages, a potential 13-year tax holiday, and favorable foreign investment conditions.

Market positioning and future outlook

• Yangibana is positioned as a cost-competitive, shovel-ready project with high NdPr content, outperforming peers in resource quality.

• The Thailand hydromet plant enables near-term cash flow and supports global rare earth supply chains by providing third-party processing.

• Anticipated demand for mixed rare earth chloride aligns with new oxide separation plants coming online in 2027–2028.

• Ongoing exploration at Yangibana suggests potential for further mine life extension.

• The combination of joint venture progress, asset sales, and hydromet plant expansion is expected to drive a company re-rating and future growth.