Australian rare earth company Hastings announced on Tuesday an offtake for its Yangibana rare earths project in Western Australia to thyssenkrupp Materials Trading GmbH.
Under the agreement Hastings will supply 9,000 tonnes per annum of its mixed rare earth carbonate for the first five years and 5,000 tonnes per annum for the second 5 years, totalling 70,000 tonnes over a 10-year period.
"The committed offtake volume from thyssenkrupp represents 60% of Hastings annual Yangibana production volume for the first 5 years and 33% for the second 5 years," writes Hastings.
"The contract grants thyssenkrupp exclusive rights to market and distribute Hastings’ Yangibana highquality rare earths product on a worldwide basis except for certain excluded customers of Hastings."
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