DRA PACIFIC AWARDED EPCM CONTRACT FOR YANGIBANA’S RARE EARTH PROCESSING PLANT

DRA PACIFIC AWARDED EPCM CONTRACT FOR YANGIBANA’S RARE EARTH PROCESSING

  • DRA Pacific Pty Ltd awarded the Engineering, Procurement and Contract Management (EPCM) Contract for the Yangibana Rare Earths Processing Plant.
  • The scope of works under the DRA Pacific Pty Ltd EPCM agreement has an estimated capital value of circa A$350m.
  • DRA Pacific’s parent DRA Global Ltd have extensive experience in designing and building mineral processing facilities worldwide and their personnel have previously delivered rare earth plants in Western Australia.
  • The key component of the contract terms is the comprehensive performance guarantee linked to ore throughput for the entire process flow sheet.

Hastings Technology Metals Limited (ASX: HAS) (Hastings or the Company) is pleased to advise that it has awarded the Engineering, Procurement, Construction and Management (EPCM) contract for its rare earths processing plant and the associated infrastructure for the Yangibana process plant in the Gascoyne Region of Western Australia to DRA Pacific Pty Ltd (“DRA Pacific”).

The appointment of DRA Pacific as the EPCM contractor for the Yangibana Project was preceded by a series of value engineering studies and the Front-End-Engineering-Design (“FEED”) completed by DRA Pacific during 2018 and 2019. DRA Pacific’s EPCM contract will cover all aspects of the design and construction of the processing facility and associated non-process infrastructure capable of producing 15,000 tonnes of Mixed Rare Earths Carbonate (MREC) per year.

The EPCM contract is the single largest dollar value contract associated with the Yangibana Project. Works directed under the EPCM Contract have an estimated value of approximately A$350M.

The key component of the contract terms is the comprehensive performance guarantee linked to ore throughput for the entire process flow sheet.

The appointment of DRA Pacific as the EPCM contractor for Hastings represents another critical milestone for the Project, reinforcing that Yangibana is execution ready.