Toronto-based Neo produces magnetic powders and magnets, specialty chemicals, metals and alloys that are key in technologies ranging from hybrid and electric vehicles to pollution control systems to energy-efficient lighting and water purification.
“This transaction with Hastings spans the value chain, from mining to magnet manufacturing,” Wyloo CEO Luca Giacovazzi said in a press release. “As the owner of the only commercial rare earth metals facility in Europe, Neo is strategically placed to help Europe meet its goal to become climate-neutral by 2050.”
Hasting’s flagship rare earths project —Yangibana — spans 650 sq. km in Western Australia’s Gascoyne region, roughly 250 km northeast of Carnarvon. The project has a JORC-compliant measured resource of 3.9 million tonnes grading 1.19% total rare earth oxides (TREO); indicated resources of 8.6 million tonnes of 1.25% TREO; and inferred resources of 8.4 million tonnes…
