Hastings in Talks with Ucore for Offtake Deal from Yangibana Rare Earths Project

Hastings Technology Metals Ltd has entered negotiations with Ucore Rare Metals Inc. for a potential offtake agreement from its flagship Yangibana Rare Earths Project in Western Australia. The move marks a significant step toward securing long-term buyers and strengthening the project’s global supply chain position in the critical rare earths market.

Strategic Partnership Discussions

The proposed offtake deal would see Ucore, a North American rare earth processor, source mixed rare earth carbonate (MREC) from Yangibana to support its Louisiana separation facility. The partnership aligns with both companies’ goals to develop independent and sustainable rare earth supply chains outside of China.

Hastings confirmed that discussions are progressing positively, focusing on commercial terms, volume commitments, and delivery schedules.

“We are pleased to be working with Ucore to advance a potential supply partnership that strengthens both companies’ positions in the critical minerals sector,” said Hastings Executive Chairman Charles Lew. “This agreement underscores Yangibana’s strategic importance as a reliable source of high-quality rare earth materials.”

About the Yangibana Project

Located in Western Australia’s Gascoyne region, the Yangibana Project hosts one of the world’s highest concentrations of neodymium and praseodymium (NdPr) — key elements used in electric vehicle motors and wind turbines. The project is currently under construction, with first production expected in 2026.

Ucore’s Strategic Plans

For Ucore, the deal supports its vision of building a North American rare earth processing network, reducing dependence on Chinese refiners. The company’s Strategic Metals Complex in Louisiana is designed to process rare earths for defense, clean energy, and automotive applications.

Market Outlook

The potential partnership comes amid surging global demand for NdPr oxides and intensifying competition among countries to secure critical mineral supply chains. Analysts believe the deal could enhance both companies’ strategic positioning and create a stable trans-Pacific supply relationship.