Quarterly Activities Report to 30 September 2024

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Month: October 2024

Quarterly Activities Report to 30 September 2024

Posted on by Ian Donabie

ASM has released its 2024 Q3 Quarterly Report. 

Key highlights include:

  • $5M in grant funding from the Federal Government’s International Partnerships in Critical Minerals Program.
  • Progress of the Rare Earth Options Assessment work to identify lower cost and shorter implementation pathways to rare earth production at the Dubbo Project.
  • Product validation notices from two potential NdFeB strip alloy customers located in Korea and the EU.
  • Advancing discussions with US EXIM Bank and Export Development Canada in relation to conditional debt financing packages for the Dubbo Project.
Read the Quarterly Report

Dubbo at the heart of plans to grow critical minerals and rare earths industry in NSW

Posted on by Ian Donabie

Australian Strategic Materials (ASM the Company) is pleased to announce it has been awarded a A$5 million grant under the Australian Federal Government’s International Partnership in Critical Minerals (IPCM) Program.

Above: Minister for Resources the Hon Madeleine King MP (centre) visited the Dubbo Project to announce the IPCM grant funding for ASM. Left Mark Coulton MP, Federal Member for Parkes. Right: Chris Jordaan, ASM Chief Operating Officer.

The grant funding will be matched by ASM and used to progress work to identify alternative, capital efficient and nearer term options for producing rare earth elements at the Dubbo Project (RE Options Assessment and Pilot Program).

A media release issued by Minister for Resources the Hon Madeleine King MP, said the Albanese Government is putting Dubbo at the heart of its plans to grow Australia’s critical minerals and rare earths industry in New South Wales by providing further support for miner Australian Strategic Materials Limited.

“Government support to refine rare earths is important for our sovereign capabilities and will help our trading partners meet their economic, national security and emission reduction commitments,” said Minister King.

Read the Minister’s Media Release

The RE Options Assessment and Pilot Program will involve engineering, sampling, metallurgical testing, and a pilot program at ASM’s pilot facility located at ANSTO (Australia’s Nuclear, Science and Technology Organisation) in New South Wales. In addition, ASM will be working with international partners to deliver the program of work. These activities are critical to ASM progressing key funding activities and taking final investment decision on the Dubbo Project which is targeted for the first half of 2026.

“This funding recognises the Dubbo Project’s national and international strategic importance. With this funding, we will be able to undertake important work to identify lower capital and shorter implementation pathways to unlock rare earth production at the Dubbo Project and ensure a focused completion of our final FEED (Front-End Engineering Design).”

Ms Rowena Smith, ASM Managing Director & CEO

Left: Geotechnical drilling being conducted at the Dubbo Project as part of the RE Options Assessment

Read the ASX announcement
ASM