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Australian Strategic Materials

  • Stand: D18
  • Location: Dubbo, NSW, Australia
  • Tickers: ASX:ASM
  • Commodities: Rare Earth Metals, Zircon
  • Project Stages: Development

Australian Strategic Materials (ASM) is building a global rare earths and critical minerals business to provide the high-tech metals needed to solve the challenges of today and the future.

The Dubbo Project is the ASM’s cornerstone rare earths and critical minerals mining and processing project. Located in Central West New South Wales, Australia, this globally significant resource of light and heavy rare earths, zirconium, niobium and hafnium has a 20-year life of mine based on reserves and a potential further 50 years of mine life based on resources. The Dubbo Project represents an alternative and reliable source of the critical minerals and rare earths needed to de-risk and relieve bottle-necking in the global supply chain. The Dubbo Project has strong financials, all major approvals in place and compelling environment, social and governance (ESG) credentials.

ASM intends to develop the Dubbo Project to produce a range of metal oxides and mixed chlorides. Over the past 16 years, the Company has worked in partnership with the Australian Nuclear Science and Technology Organisation (ANSTO) to complete significant successful test work and develop an advanced flowsheet design. ASM and ANSTO are continuing this work to further maximise recoveries.

When the Dubbo Project is constructed, the products will be metallised at ASM’s metals plant(s), the first of which has been commissioned in Ochang, Korea. The Korean Metals Plant (KMP) opened in 2022 and is producing high-tech metals and alloys needed for sustainable energy industries, advanced manufacturing and other growth industries. In addition to now ramping up production of its neodymium/praseodymium products, the KMP is also developing its titanium alloy processing. As part of this work, the Company is progressing with the commercial scale development of its innovative metallisation technology, the LK process.

ASM wants to leave a legacy that delivers enduring benefits to the communities and regions where it operates and will work to ensure it manages environmental impacts, respects human rights, minimises greenhouse gas emissions, and supports local communities. As part of this commitment, ASM intends for its direct supply chain of rare earths and critical minerals from the Dubbo Project to be highly traceable for ethical and sustainable accountability from mine to market. ASM also intends for the Dubbo Project to be a flagship for clean resource development: targeting carbon net-zero by 2050 and adopting key strategies that significantly improve ESG performance.

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Open 0.74000 Volume 749802
High 0.80000 52w High 2.25000
Low 0.73000 52w Low 0.73000
Close 0.78000

* 18 June 2024 (AUD)

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