Year: 2024

Australian Strategic Materials (ASM) is pleased to advise that its subsidiary Australian Strategic Materials (Holdings) Pty Ltd (ASMH) has appointed global engineering company Bechtel Mining and Metals, Inc (Bechtel) to conduct Front-End Engineering Design (FEED) services for ASM’s rare earths and critical minerals Dubbo Project in New South Wales (NSW).

Highlights

• New contract will deliver critical path to final investment decision for the Dubbo Project
• Strategic partnership with Bechtel further enhances new funding opportunities with US government entity
• Application submitted for Export-Import Bank of the United States’ (US EXIM) Engineering Multiplier Program (EMP), to cover >80% of FEED contract costs
• Letter of Interest issued by US EXIM in support of ASM’s EMP application.

Australian Strategic Materials (ASM) is pleased to announce it has received a non-binding Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) to provide a debt funding package of up to US$600 million (A$923 million) for the construction and execution phase of the rare earths and critical minerals Dubbo Project.

Highlights

• LoI from US EXIM bank for up to US$600M (A$923M) in debt financing package for Dubbo Project
• US EXIM is the official export credit agency of the US federal government
• US government support is a catalyst to increase customer and financing focus in North America
• LoI from US EXIM is in addition to A$200M Letter of Support previously received from EFA
• Dubbo Project is a construction ready, globally significant and long-life rare earths and critical minerals project

Australian Strategic Materials (ASM) is proud to be featured in the latest Australian Critical Minerals Prospectus, produced by the Australian Trade and Investment Agency (Austrade).

The Prospectus showcases investment-ready critical minerals projects that have significant potential to address anticipated production shortfalls, build supply chain security, and deliver progress on a net zero future.

ASM’s cornerstone Dubbo Project, located in Central West New South Wales, is a globally significant rare earths and critical minerals deposit that includes neodymium, praseodymium, dysprosium, terbium, zirconium, niobium and hafnium. The project has all major approvals in place and is construction ready.

On the launch of the prospectus, Minister for Resources, the Hon Madeleine King MP, said: “Australia’s critical minerals are key to the world’s energy transformation.

“But we need to attract investment to get these minerals out of the ground, to process them here, to build the batteries, wind turbines and solar panels required make the switch to a lower carbon economy.

“This prospectus will help attract the investment we need to build new industries, create jobs and reduce global emissions.”