Hastings Technology Metals to cut costs

SYDNEY: Australia’s Hastings Technology Metals Ltd has announced that it would reduce its capital spend on the Yangibana rare earths project by about A$68mil (US$48.73mil) through decoupling and relocating a part of it.

The rare earths explorer will relocate Yangibana’s hydrometallurgical cracking and leaching plant to the Pilbara region from the Gascoyne region in Western Australia, citing benefits like lower on-site costs and easier access to port facilities.