Yangibana-Ucore Deal Could Reshape Rare Earth Supply Amid Geopolitical Shifts
Hastings Technology Metals and Wyloo have signed a non-binding agreement with Ucore Rare Metals to negotiate a long-term offtake for rare earth concentrate and explore US-based downstream processing.
- Non-binding Heads of Agreement signed between Yangibana JV and Ucore Rare Metals
- Potential offtake of up to 37,000 tonnes per annum of rare earth concentrate
- Joint evaluation of a hydrometallurgy plant in Louisiana to produce mixed rare earth carbonate
- Partnership aligns with US-Australia critical minerals supply chain framework
- Definitive offtake agreement expected after June 2026, following Yangibana project development
Strategic Partnership Formation
Hastings Technology Metals Ltd and its joint venture partner Wyloo Gascoyne Pty Ltd have taken a significant step forward in advancing their rare earths ambitions by signing a non-binding Heads of Agreement (HoA) with Ucore Rare Metals Inc., a North American rare earth processing company. This agreement sets the stage for negotiating a long-term offtake arrangement for rare earth concentrate from the Yangibana Project in Western Australia, potentially supplying up to 37,000 tonnes annually.
Building a Transpacific Rare Earth Supply Chain
The collaboration aims to establish an integrated supply chain spanning Australia and the United States, leveraging proprietary technologies from both parties. Central to this is the joint evaluation of a downstream hydrometallurgical processing facility in Louisiana, USA, to convert Yangibana’s high-grade concentrate into mixed rare earth carbonate (MREC). This move aligns closely with the recently announced US-Australia Framework for securing critical minerals supply chains, reflecting geopolitical priorities to diversify and secure rare earth sources.
De-risking and Value Capture
For Hastings and Wyloo, the partnership with Ucore represents more than just an offtake opportunity; it is a strategic de-risking measure. By securing a cornerstone partner in a key market and exploring downstream processing options on US soil, the Yangibana JV enhances its project value and positions itself to capture a greater share of the rare earths value chain. The Yangibana Project is already fully permitted with infrastructure and equipment ready for construction, underscoring its readiness to meet growing demand driven by electric vehicles and renewable energy technologies.
Technological Synergies and Market Implications
Ucore brings to the table its proprietary RapidSX™ critical metals separation technology, which, when combined with Yangibana’s acid bake hydrometallurgy process, could create a highly efficient and resilient supply chain. This technological synergy is designed to meet the increasing demand for neodymium and praseodymium (NdPr), critical components in permanent magnets. The partnership also signals a strengthening of Australia’s role as a reliable supplier of rare earths to North America, a market of strategic importance amid global supply chain realignments.
Looking Ahead
The HoA is non-binding, with a definitive offtake agreement expected to be finalized after June 2026, in line with Yangibana’s production schedule. The parties will continue to assess technical, commercial, and regulatory factors, including financing and environmental compliance for the proposed US hydromet plant. This partnership not only advances the Yangibana Project’s commercial prospects but also contributes to the broader geopolitical objective of securing critical mineral supply chains between Australia and the United States.
Bottom Line?
Yangibana’s US partnership marks a pivotal step in securing a resilient rare earth supply chain amid shifting global dynamics.
Questions in the middle?
- Will the definitive offtake agreement be finalized on schedule after June 2026?
- What are the financing and regulatory hurdles for establishing the hydromet plant in Louisiana?
- How will integration of proprietary technologies impact production costs and timelines?