Hastings Rare Metals aims to become a leading global supplier of dysprosium
May 17, 2013 – Steve Mackowski, the Technical Director for Hastings Rare Metals (‘Hastings’, ASX: HAS) in an interview with Dave Glover for ProEdgeWire talks about the Hastings Project in northwestern Australia.
Steve confirmed that the project is at pre-feasibility stage “with a view to be in pilot plant operations within the end of the calender year.” Hastings’s current market capitalization is AUD$ 10 million and three million dollars in the bank. Steve, discusses how the company is targeting investment in a tight capital space, minimizing overheads with an eye toward getting the pilot plant phase completed and completing the feasibility study and “we’re currently in preliminary discussion with a number of players with a view to secure some sort of strategic relationship”.
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Steve then explains the change from Light dominated rare earths market with cerium, lanthanum and neodymium “at the commodity end of the circuit”. However, Steve said that “we are at the other end of the REO spectrum; we’re producing very high-tech materials, both dysprosium and yttrium and so the financing will be different and those are the sorts of things we are discussing with the supply chain that gets us into that magnet market, or that wind turbine market or that hybrid car market”.
As for grade, Steve Mackowski said “the Hastings project is 0.21 TREO…which compared to light REO Projects is quite low, but — he stresses — we’re 85% heavy rare earths”. This is the highest heavy rare earth proportion of any known project. Steve Mackowski compares the Hastings project to other developing resources, citing the advantage of having a strong historical record; “we’ve been working on validating what was an old flow sheet for the past 18 months”, which eases the process of securing a strategic partner and long term end user.
Disclaimer: Hastings Rare Metals Ltd. (www.hastingsraremetals.com) is an advertorial member of ProEdgeWire.
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