Australian Strategic Materials (ASM) has announced a further sale of 60 tonnes of high-purity NdFeB alloy to Noveon Magnetics Inc. (Noveon), the first operational US manufacturer of sintered rare earth magnets.
The alloy, produced at ASM’s Korean Metals Plant, will be delivered progressively over six months under an existing supply contract. The sale directly supports Noveon’s production of US-made permanent magnets, critical for defence, clean energy, and electric vehicle applications.
The transaction reinforces ASM’s strategic positioning as a leading non-China supplier of critical metals and alloys, and strengthens the commercial foundation for ASM’s planned US manufacturing expansion.
ASM and Noveon are now in discussions regarding a potential long-term agreement for further supply of alloy.