Wyloo Secures 60% Stake in Yangibana Rare Earths Project After Shareholder Vote
Hastings Technology Metals has secured shareholder approval for a joint venture with Wyloo, granting Wyloo a 60% stake and operational control of the Yangibana Rare Earths Project, setting the stage for accelerated development and production.
- Shareholders approve unincorporated joint venture with Wyloo
- Wyloo to hold 60% interest and manage Yangibana project
- Partnership reduces Hastings’ capital burden and project risk
- Yangibana positioned for production within 18 months post-final investment decision
- Transaction expected to unlock significant long-term value
Shareholder Approval Marks a Turning Point
On 30 July 2025, Hastings Technology Metals announced that its shareholders overwhelmingly approved the formation of an unincorporated joint venture (UJV) with Wyloo Gascoyne Pty Ltd, a wholly owned subsidiary of Tattarang. This approval is a pivotal milestone for the Yangibana Rare Earths and Niobium Project, located in Western Australia’s Gascoyne region.
The joint venture grants Wyloo a 60% interest in the project and appoints it as the UJV Manager and Operator. This arrangement not only brings in a partner with substantial financial strength and technical expertise but also significantly de-risks the project’s pathway to development and production.
Strategic Partnership to Accelerate Development
Hastings’ Executive Chairman, Charles Lew, emphasized that the partnership with Wyloo represents a shared vision to transform Yangibana into a major rare earths producer. The collaboration is expected to reduce Hastings’ capital requirements, easing the financial burden on the company and enabling a clearer route to funding and construction.
Wyloo’s CEO, Luca Giacovazzi, highlighted Yangibana’s status as Australia’s most advanced rare earths project, with a low remaining capital intensity and a feasible timeline to concentrate production within 18 months following a final investment decision. The project’s rare earth elements, particularly neodymium and praseodymium, are critical for emerging technologies such as electric vehicles, renewable energy, and defence applications.
Positioning for a Critical Minerals Future
The joint venture aligns with broader strategic goals to secure sustainable and domestically sourced critical minerals essential for the global energy transition. Wyloo’s experience in managing high-grade nickel and other critical mineral assets complements Hastings’ rare earth expertise, creating a partnership well-equipped to navigate the complexities of bringing Yangibana into production.
With the project fully permitted and poised to produce 37,000 tonnes per annum of mixed rare earth concentrate initially, the collaboration is expected to unlock substantial long-term value for shareholders and contribute meaningfully to Australia’s critical minerals supply chain.
Looking Ahead
While the joint venture’s formation is a significant step forward, both companies acknowledge that important work remains to finalize the arrangement and advance the project’s next phase. The partnership’s success will depend on effective execution, market conditions, and ongoing stakeholder support.
Bottom Line?
The joint venture with Wyloo sets Yangibana on a faster, more secure path to production, but execution risks remain as the project moves forward.
Questions in the middle?
- What are the detailed financial terms and capital commitments from Wyloo and Hastings?
- How will the joint venture impact Hastings’ shareholding structure and future earnings?
- What are the key milestones and timelines for final investment decisions and production ramp-up?