Hastings Technology Metals Ltd (ASX: HAS), a Perth-based rare earths company focused on developing the Yangibana Joint Venture in Western Australia, which contains a highly valued NdPr deposit, has provided a comprehensive overview of its proprietary caustic-leach hydrometallurgical process flowsheet for its Kabin Buri Hydromet Plant in Thailand. This strategic move follows a Framework Offtake Agreement with Enuo Holdings Pte Ltd for African Monazite Concentrate supply, establishing a complete feedstock-to-product operating model. Hastings is targeting first Mixed Rare Earth Chloride (MREC) flake production from the plant in Q4 2026, accelerating its transition to a vertically integrated rare earths producer with near-term revenue.
The acquisition of the Hydromet Plant is progressing, with due diligence targeting completion by June 2026. Concurrently, commissioning of the facility, designed for an initial 5,000 tonnes per annum (tpa) input capacity, is slated for June 2026. Financial projections for Year 1 anticipate revenue of US$53.40 million, yielding an estimated pretax profit of US$21.6 million (US$10.6 million attributable to Hastings’ 49% interest). Following a planned US$3 million capacity expansion, MREC output is projected to double to 12,000 tpa from Year 2, with annual revenue of US$106.8 million and pretax profit of US$43.8 million (US$21.5 million attributable to Hastings).
Hastings CEO, Mr Vince Catania, emphasised that with feedstock secured and a proven seven-stage process, the company is on a clear path to MREC production, positioning it as a midstream participant in the global rare earths supply chain and providing strong near-term cash flow. The plant will produce premium-grade MREC flakes, increasingly preferred by global oxide separation facilities due to direct processability and a lower impurity profile. Its strategic location in Thailand’s Eastern Economic Corridor is expected to deliver lower operating costs for electricity, reagents, and a skilled local engineering workforce. The modular design further enables future expansion, including processing concentrate from Hastings’ Yangibana Project.
