Wyloo, Hastings form joint venture for Yangibana project

Wyloo Metals and Hastings Technology Metals have agreed to form a joint venture for the Yangibana Rare Earths and Niobium Project in Western Australia, with Wyloo holding a 60% interest and managing the project. The partnership aims to leverage Wyloo's technical and financial strengths to advance this critical minerals project, which is already one-third completed and has seen significant investment. Wyloo will also acquire a 19.99% stake in Neo Performance Materials, enhancing its position in the mining supply chain. Financial projections for the Yangibana project indicate a robust post-tax NPV of $865 million and an annual EBITDA of $258 million. The project is fully permitted and includes infrastructure development such as a village and airstrip. Wyloo's CEO expressed enthusiasm for the partnership, highlighting the project's potential to contribute significantly to the global supply of key materials for the energy transition.