Australia's Hastings signs supply deal with Enuo for Thailand hydromet plant (updated)

Hastings Technology Metals

14/04/2026 02:59

Updates with share move in last bullet

April 14 (Reuters) - Australia's Hastings Technology Metals HAS.AX said on Tuesday it had signed an agreement with private firm Enuo Holdings for the supply of African-sourced monazite concentrate for its  hydrometallurgical plant in Thailand.

Here are some details:

The supply agreement comes two weeks after the rare earths developer agreed to buy a 49% interest in the plant from Enuo.

Under the agreement, Enuo will supply a minimum of 5,000 metric tons per annum of monazite concentrate bearing a minimum 54% total rare earth oxide (TREO) on a dry basis.

Monazite is a sand mineral that contains rare earth elements, a feedstock used in chemical plants to produce rare earth chlorides.

The deal positions Hastings to supply rare earth chlorides to customers in the United States, Europe and Asia.

Under the agreement, a container of monazite concentrate scheduled to arrive in Thailand in two months will be shipped immediately.

The agreement is for a two-year term with an option for a one-year renewal.

The agreement will enable Hastings to fast-track mixed rare earth chloride production and generate cash flow ahead of its Yangibana rare earths project in Western Australia coming online.

Hastings plans to commence commissioning work at the hydrometallurgical plant in June.

Shares of Hastings rise as much as 3.2% to A$0.485 by 0154 GMT

 (Reporting by Sruthi Narasimha Chari in Bengaluru; Editing by Subhranshu Sahu)

 ((SruthiNarasimha.Chari@thomsonreuters.com))