Mine to magnet for Hastings
Wednesday, October 12th, 2022
Under the Memorandum of Understanding, the supply of an initial 2500 tonnes per annum of MREC will be sent from Hastings’ Yangibana rare earth project in Western Australia to Solvay’s plant in La Rochelle, France.
Solvay recently announced its commitment to expand and upgrade its La Rochelle plant for the production of separated rare earth oxides for the permanent magnets market.
This significant investment from the Group brings the site one step closer to becoming a major rare earths hub in Europe in the coming years.
The partnership agreement with Hastings puts both parties in an advantageous position to explore potential downstream opportunities including magnet production with third parties.
Hastings executive chairman Charles Lew said the agreement set out the basis of a long-term partnership with Solvay for its downstream mine-to-magnet strategy, which was in line with the company’s European-centric business model.
“We are delighted that Solvay has chosen to work with Hastings as it re-enters the rare earth oxides separation business at a time when long term demand for NdPr oxides is experiencing strong growth,” he said.”
Solvay chief executive Ilham Kadri said his company aimed to help Europe power its new economy with more autonomous and sustainable solutions for electric mobility, clean energy generation and sensitive electronics applications.
“Hasting’s Yangibana Project is a significant Australian rare earths project, containing substantial neodymium and praseodymium resources,” he said.
The project currently covers approximately 650 square kilometrrs and is located in the Gascoyne region of WA.
Solvay is globally recognised as a technology leader in rare earths separation, recycling, purification, finishing and formulation. The separation plant is located in La Rochelle, France and has been in existence since the 1980s.