- McGowan Government welcomes $220 million NAIF loan for Yangibana project
- The project will create hundreds of jobs in the Gascoyne and Pilbara
- Strong support for WA’s Future Battery and Critical Minerals Industries Strategy
The Western Australian Government has welcomed the Northern Australia Infrastructure Facility (NAIF) decision to provide a $220 million loan for the Yangibana Rare Earths Project.
The project is expected to require 500 full-time equivalent construction positions plus 250 jobs once operational.
The Yangibana project, which is being facilitated by Hastings Technology Metals, includes a mine site 250 kilometres north-east of Carnarvon in the Gascoyne region and a hydrometallurgical processing plant in the Ashburton North Strategic Industrial Area near Onslow in the Pilbara.
The operation will expand WA’s capability in downstream processing of rare-earth minerals.
The Yangibana project will produce about 15,000 tonnes of Mixed Rare Earth Carbonate (MREC) over the mine’s lifetime.
The demand for MREC relates to the need for neodymium and praseodymium rare-earth metals to produce magnets for use in electric vehicles, wind turbines and robotics.
Significant public benefits to the Gascoyne and Pilbara regions will be delivered through commitments Hastings is making regarding local employment and business opportunities, road upgrades, and installation of common-user communications infrastructure.
The project aligns with the WA Government’s Future Battery and Critical Minerals Industries Strategy, to develop a world-leading sustainable and value-adding battery and critical minerals sector.
NAIF is a $5 billion Australian Government initiative to provide concessional loans to infrastructure facilities
As stated by State Development, Jobs and Trade Minister Roger Cook:
“This project will create hundreds of jobs in the Gascoyne and Pilbara regions as well as generate significant financial returns for the WA economy.
“Importantly, it is a glimpse into the near future as WA develops a world-leading battery and critical minerals sector.
“This is using WA’s rare-earth minerals to build the technology to support the global shift towards decarbonisation.”