Hastings appoints new CEO

Former Fortescue Metals Group and Mineral Resources senior staffer Paul Brown has secured the top job at Hastings Technology Metals as the rare earths aspirant progresses its Yangibana project.

Mr Brown will take on the role of chief executive from September 21, replacing interim chief executive Alwyn Vorster who served in the role for a year.

Across his more than two decades experience in the mining industry, Mr Brown held managerial roles for five years with FMG before moving to MinRes in 2015.

He held numerous roles at the Chris Ellison-led miner, including general manager of Pilbara operations, executive general manager of mining and chief executive of commodities until 2022.

Mr Brown is also a non-executive director of Future Battery Minerals and Jindalee Resources.

“The Yangibana project holds immense potential, and I’m eager to apply my experience and insights to realise its full value,” Mr Brown said in an ASX announcement. 

“My passion for forward-facing commodities like battery minerals and rare earth magnets resonates deeply with the ecosystem crucial for a greener future.

“Collaborating closely with Charles and the entire team, I am confident that we can navigate the challenges ahead and pave the way for a successful and sustainable future in the rare earths industry.”

In May, Hastings reported a 44 per cent cost blowout for the rare earths project to $948 million, citing industry cost inflation, project scope refinement and design growth and third-party imposed conditions as reasons for the revised cost. 

Hastings also moved to stage the development of the project to reach a faster pathway to cash flow to fund the second phase of development.

The first stage of the development will focus on the construction of the Yangibana mine and beneficiation plant in the Gascoyne region, which is expected to commence in the third quarter of CY2023. 

The beneficiation plant is tipped to produce 37,000 tonnes per annum of rare earth concentrate by the first quarter of calendar year 2025, with the plan for it to help fund the next stage of development.

The second stage involves the construction of a hydrometallurgical plant in Onslow in the Pilbara to produce 15,000tpa tonnes of mixed rare earth carbonate.

Hastings executive chair Charles Lew said Paul was joining the team at a pivotal time for the Yangibana project as it nears to start of construction.

“Paul will also drive the ongoing review of the capital and operational expenditures for the proposed hydrometallurgical plant, as well as work alongside myself on Hastings’ mine to magnet strategy,” he said.