Hastings Technology Metals Ltd (ASX:HAS) Annual Report to Shareholders

Hastings Technology Metals Limited (ASX:HAS) (FRA:5AM) is an Australian rare earths Mining Company based in Perth developing the Yangibana Project to become world's next producer of neodymium and praseodymium (NdPr).

Hastings also has the Brockman project (41Mt), Australia's largest heavy rare earths deposit, near Halls Creek in the Kimberley.

NdPr is a critical mineral used to manufacture permanent magnets enabling the decarbonisation of our society through green mobility solutions and renewable energy technologies. Permanent magnets are used in advanced technology products ranging from Electric Vehicles, drones, wind turbines, smartphones, robotic solutions, etc.

Hastings' flagship Yangibana project, in the Gascoyne region of Western Australia, contains deposits with a NdPr:TREO ratio of up to 52%, unmatched anywhere in the world. The company aims to produce concentrate at the Yangibana mine site which then gets trucked 500 km away to the Pilbara coast where we plan to build a downstream Hydromet plant to produce a mixed rare earth carbonate (MREC).

The company has secured a major offtake contracts with Thyssenkrupp for 60% of its production (in the first 5 years) and a signed a Master Supply Agreement with Schaeffler. In February 2021, Hastings successfully raised A$100m in equity. Hastings has now established a robust execution team and is working with external partners in a lending consortium for the project debt. Groundwork and early infrastructure programs are anticipated to commence in 2021 ahead of the first production.

To view the full Annual Report, please visit:
https://abnnewswire.net/lnk/FI10H2SR

Charles Lew 
Executive Chairman 
+65 6220 9220

Matthew Allen 
Chief Financial Officer 
+61 8 6117 8634

Andrew Reid 
Chief Operating Officer 
+61 8 6117 8621

For media and investor queries, please contact:

Peter Klinger 
Cannings Purple 
+61 411 251 540 pklinger@canningspurple.com.au

Peter Kermode 
Cannings Purple 
+61 411 209 459 pkermode@canningspurple.com.au