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Australian company Hastings Technology Metals has signed a memorandum of understanding with the Estonian Investment Agency, according to which the company will explore the possibilities of establishing a rare earths hydrometallurgical plant in Ida-Viru County. Previously, Hastings has made a strategic investment in Neo Performance Materials Inc., a TSX-listed company with a rare earth separation facility in Sillamae, Estonia, and a rare earth permanent magnet manufacturing plant under construction in Narva. This €200M project is a cornerstone part of EU energy security and green transition. In Estonia, Neo operates Europe’s only operational commercial rare earth separation facility and is set to commence production of rare earth magnets in 2025.

Ida virumaaWestern australiaCharles lewEu just transition fundNeo performance materials incHastings technology metalsEuropean unionEstonian investment agencyHastings technologyYangibana rare earths projectInvest estoniaEstonian governmentTransition fundEstonian world reviewEsti eluStonian life