Interim Financial Report

Home > 2024

Year: 2024

Interim Financial Report

Posted on by Ian Donabie

Today we released our Interim Financial Report for the half-year ended 31 December 2023.

Key milestones during the half-year included:

  • Completion of Stage 1 of the Engineering, Procurement and Construction (EPC) Definition work conducted by Hyundai Engineering Company.
  • Commencement and completion of the scoping phase of the Non-Process Infrastructure (NPI) Study Work conducted by Bechtel Australia Pty Ltd (Bechtel).
  • Commencement of Non-Process Infrastructure (NPI) Study Work by Bechtel, following scoping phase.
  • Commencement and progression of the solid residue storage facility study work by Stantec.
  • Conclusion of terbium (Tb) and dysprosium (Dy) heavy rare earth separation test work by Australian Nuclear Science and Technology Organisation (ANSTO) on the Dubbo Project’s process flowsheet.
  • Completion of studies examining opportunities to reduce greenhouse gas emissions.
    These and other essential activities will help ensure the Company is well positioned to commence construction following Final Investment Decision on the Dubbo Project.
Read the Interim Financial Report

Dubbo Project featured in Australian Critical Minerals Prospectus

Posted on by Ian Donabie

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.

The Australian Critical Minerals Prospectus
Dubbo Project orebody
The Dubbo Project is a rare earths and critical minerals deposit
Minister for Resources Madeleine King with the ASM team at IMARC 2023

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.”

Download the Critical Minerals Prospectus
Learn more about the Dubbo Project
 

Quarterly activities report to 31 December 2023

Posted on by Ian Donabie
ASM Managing Director and CEO Ms Rowena Smith (centre left) was part of an Australian trade delegation to the US in Q4.

We are pleased to advise our Quarterly Activities Report to 31 December 2023 has been released.

In line with ASM’s strategic business priorities, this Quarter the Company:

  • Participated in a trade delegation to the US and established strong potential funding pathways with North American government agencies and export credit finance agencies;
  • Continued sample product evaluations and offtake discussions with potential Dubbo Project customers and investors;
  • In early January 2024, successfully progressed to a shortlist of preferred suppliers in one competitive process with respect to potential offtake for the Dubbo Project;
  • Progressed critical early establishment work at the Dubbo Project; and
  • Commenced enhancements to the neodymium production line at the Korean Metals Plant and conducted upgrades to laboratory facilities.
Read the Quarterly Report
ASM