(MENAFN- ProactiveInvestors - Australia) The project is situated 270 kilometres northeast of Carnarvon in the Gascoyne region of Western Australia.
The latest total resource is 13.4 million tonnes at 1.18% total rare earths oxides (TREO) including 0.39% neodymium plus praseodymium oxides (Nd2O 3+Pr2O3).
This represents a 19% increase in contained TREO compared with the October 2015 resource estimate.
The new estimate shows a 22% increase in contained neodymium plus praseodymium, used in the high-growth permanent magnets industry, compared with the previous estimate.
Importantly, the Yangibana project now has a measured resource of 2.15 million tonnes at 0.42% neodymium plus praseodymium oxides.
Hastings also owns the Brockman project in in the East Kimberley Region of Western Australia, containing a total resource of 41.4 million tonnes at 0.21% TREO.
Rare earths are critical to a wide variety of current and new technologies, including smartphones, hybrid cars, wind turbines and energy efficient light bulbs.
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