Year: 2023

We are pleased to advise that our Dubbo Project SSD Modification Report 1 (MOD1) has received Development Consent approval from the NSW Department of Planning and Environment following a thorough public submission and review process.

The MOD1 determination was required after our December 2021 Optimisation Study led to several design improvements in plans already approved for the Dubbo Project. These included simplifying the project’s process flowsheet and incorporating new operating strategies that would reduce impact on the Dubbo community and environment, while also reducing operating costs and improving project economics.

Congratulations to our Dubbo Project team, who completed numerous environmental studies including noise, air quality and emissions to submit the MOD1 in early 2022, and then to respond to submissions made during the public exhibition process.

Another step forward for our Dubbo Project in 2023!

• 

• 

It was a pleasure to welcome our Korean Metals Plant Representative Director, Mr Sung-lea Cho, on his first trip to Australia.

During his visit, Mr Cho spent time at our Dubbo Project site and toured the project’s test work facilities at ANSTO.

With products from the Dubbo Project (once constructed) going to the Korean Metals Plant for metallisation – this visit provided Mr Cho and the team in Australia opportunity to better get to know one another, as we work together to progress ASM’s `mine to metals’ business.

Mr Cho also spent a week in the Perth office, working with the Executive team on ASM’s 2023 Business Plan.

We are excited to be getting underway with Stage 1 of our Dubbo Project EPC Definition work.

In early February, the Dubbo Project Team held a kick-off meeting with representatives from Hyundai Engineering Co. Ltd (HEC) to commence Stage 1 requirements.

During Stage 1, HEC will establish front-end engineering and design activities and progress standards development.  This work is expected to be completed in mid-2023.

We are delighted to welcome Annaliese Eames, in her first week as our General Counsel and Joint Company Secretary.

Annaliese brings over 15 years of legal, commercial, strategic and corporate governance experience to ASM.  Her depth of knowledge covers large scale project contracting, corporate, finance and intellectual property law.

ASM CEO Rowena Smith says that “Annaliese’s substantive experience is directly relevant to the growth of ASM, particularly as we look to progress development of our Dubbo Project in 2023.”

We are pleased to advise our Quarterly Activities Report to 31 December 2022 has been released.

In line with ASM’s strategic business priorities, key activities for the Quarter included:

• Strengthened balance sheet by $41.1 million via successful Capital Raise, to position the Company to undertake priority activities in 2023;
• Completed the neodymium praseodymium metal commissioning and materially progressed the NdFeB alloy commissioning at the Korean Metals Plant; and
• Negotiated with HEC for a variation to the Dubbo Project EPC Definition contract.  This was finalised after the end of the Quarter and the Notice to Proceed for Stage 1 was issued to allow work to commence.