Hastings CEO departs amid cost-cutting restructuring
Paul Brown will leave rare earths developer Hastings Technology Metals at the end of the month as the company restructured its business to reduce costs.
The restructuring has resulted in a “material reduction” in the workforce numbers, ASX-listed Hastings said on Friday.
Brown, who joined Hastings in September last year, has undertaken a company-wide structure and cost review, including a detailed first principle’s build-up of the capital costs estimates of the Yangibana rare earths project.
Details of the capital costs estimate will be announced in the coming weeks.
“I am pleased with the work that has been undertaken by the Hastings team to identify significant savings and optimisation across the Yangibana project, which continues to derisk the project execution strategy and improve project economics,” said Brown.
As part of the restructure, current executive general manager of mining operations, Tim Gilbert, will step into the role of COO and report directly to executive chairperson Charles Lew.
Commenting on the restructure, Lew said that Hastings was confident that the new management structure had the necessary team of executives with specific skills to close out its project financing workstream and strategic options.
“The fundamentals of the Yangibana project remain positive and unchanged,” he added.
Lew thanked Brown and the people leaving Hastings for their efforts in taking the project through to its advanced stage.
The Yangibana project is located in the Gascoyne region of Western Australia. The project will be developed in two stages with an initial focus on the construction of the mine and beneficiation plant to produce 37 000 t/y of mixed rare earth concentrate.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.
VISIT SHOWROOM
BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
