RE: Hastings Signs Major Offtake Contract with thyssenkrupp Materials Trading GmbH.20 Apr 2021 16:03
They must have expansion plans?
ThyssenKrupp
MOU signed 2018, advanced contract drafting Target signing March
5 – 7,500t MREC p.a
10 years
That has now been confirmed as below a big ramp up in years one to five!
Hastings will supply 9,000 tonnes per annum of its Mixed Rare Earth Carbonate (MREC) for the first
5 years and 5,000 tonnes per annum for the second 5 years, totalling 70,000 tonnes over a 10-year
period. The committed offtake volume from thyssenkrupp represents 60% of Hastings annual Yangibana
production volume for the first 5 years and 33% for the second 5 years
So, 9,000 tonnes per year is 60% of the first five years production so total production is 15,000 tonnes:
Leaving 6.000 tonnes but contracts show:
SCHAEFFLER
Master Supply Agreement Signed Jun-2020
5,000t MREC p.a
10 years
So that leaves only 1,000
SKYROCK
Offtake Agreement Signed Nov-2018.
5 Years Fixed Term with 2-year flexible ramp-up of supply
2,500t MREC p.a.
Leaves -1,500 tonnes
And the unknown:
Confidential
Contract Status MOU signed Apr 2020 - in contract
drafting for MSA
Approx. X,000t MREC p.a
5 + 5 years
Confidential
Advance negotiation and contract Drafting
X,000t MREC p.a.
10 years
Anyone read this differently?