EXPLORATION & DEVELOPMENT

Hastings now planning staged rare earth development as capital costs soar

THE Andrew Forrest-backed Hastings Technology Metals has come up with yet another development plan, this time outlining a staged route that initially involves spending A$470 million for an operation producing rare earth concentrate that could yield it earnings of $174 million per annum (EBITDA) to fund a circa $500 million second investment enabling mixed rare earth carbonate output.