Hastings Technology Metals has entered a non-binding memorandum of understanding (MOU) with the Estonian Government’s investment agency, EIS, to conduct a scoping study into the potential for downstream rare earth processing in Estonia.
The collaboration aims to enhance the European supply chain for strategic materials critical to the electric vehicle and renewable energy sectors.
Following its May 2023 Staged Development Feasibility Study, Hastings is concentrating on constructing the Yangibana Rare Earths Project’s mine and beneficiation plant.
The project’s objective is to produce a rare earth mineral concentrate for export, thereby facilitating early project cash flows.
Concurrently, Hastings is evaluating the benefits of further processing this concentrate into mixed rare earth carbonate.
The MOU with EIS outlines mutual goals such as streamlining planning and permitting processes and exploring financial support from the Estonian Government, including tax incentives.
Source: Mining Technology