InvestSMART

Hastings Technology Metals Limited (ASX:HAS)

ALERT: Price-sensitive ASX Announcement for HAS
Current share price for HAS : $0.305 -0.295 (-49.17%)+
Announcement
Release
31 Oct 2025 11:08AM
Price at Release
$0.600
Full Release
download
Summary
Hastings Technology Metals Ltd, together with its joint venture partner Wyloo Gascoyne Pty Ltd, has signed a non-binding Heads of Agreement (HoA) with Ucore Rare Metals Inc. This agreement provides a framework for negotiating a long-term offtake agreement to supply up to 37,000 tonnes per annum of rare earth concentrate from the Yangibana Project to Ucore. The partnership also explores the establishment of a hydrometallurgy plant in Louisiana, USA, utilizing Yangibana JV's proprietary technology and Ucore's Rapid SX separation technology. This initiative aligns with the United States and Australia's framework for securing supply chains in critical minerals. The collaboration aims to supply the North American market and strengthen the rare earth value chain, with a definitive agreement expected by June 2026, coinciding with the Yangibana Project's development timeline.
Key Points
  • Hastings and Wyloo entered a non-binding Heads of Agreement with Ucore.
  • Agreement aims for a long-term offtake of 37,000 tonnes/year of rare earth concentrate.
  • Plan to establish a hydromet plant in Louisiana, USA.
  • Collaboration focuses on integrating proprietary technologies from both parties.
  • Aligns with US-Australia framework for critical minerals supply chain.
  • Definitive agreement expected by June 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.