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Hastings Lands Key Supply for Thai Rare Earth Plant
14 Apr
Summary
- Two-year agreement for 5,000 tonnes of monazite concentrate annually.
- Concentrate contains 54% total rare earth oxide and key magnet metals.
- Thai plant expansion to 30,000 tonnes annually planned from 2027.
Hastings Technology Metals has finalized a significant two-year offtake agreement with Enuo Holdings. This deal ensures the annual delivery of 5,000 tonnes of African monazite concentrate to Hastings' new hydrometallurgical plant near Bangkok, Thailand.
The company recently acquired a 49% stake in the Kabin Buri facility. By securing this feedstock in advance, Hastings has effectively addressed a major execution risk before the plant's scheduled start-up in the December quarter of 2026.
The monazite concentrate is notable for its high grade, containing 54% total rare earth oxides (TREO). It also provides a valuable mix of magnet metals, including neodymium and praseodymium, alongside dysprosium and terbium.
The Thai plant currently has a capacity to process 6,000 tonnes annually, producing mixed rare earth chloride. Hastings is exploring a substantial expansion, with studies underway to potentially increase throughput to 30,000 tonnes per annum from 2027 onwards.
