Hastings Technology Metals secured a $7 million investment from JL Mag Rare-Earth.

JL Mag's subsidiary, JL Mag Green Tech (Hong Kong), will purchase 19.6 million new shares at 36 cents per share, acquiring a 9.8% stake in Hastings.

The funds will advance Hastings' Yangibana Rare Earths Project in Western Australia.

The Yangibana Project aims to produce 37,000 tonnes of mixed rare earth concentrate annually by the first half of 2026 and is currently 32% complete.