ASM signs three-way MOU with VTRE and Blackstone

Signing of agreement between ASM, BSX, and VTRE at Australian Embassy in Hanoi, Vietnam. Back row: Hoa Nguyen (Austrade), Chris Morley (Austrade), Andrew Goledzinowski (Australian Ambassador to Vietnam), Ben Davies (Australian Embassy, Vietnam). Front row: Scott Williamson (MD BSX), Luu Anh Tuan (Chairman VTRE), Rowena Smith (MD ASM)

We are pleased to advise that ASM has signed a non-binding Memorandum of Understanding (MOU) with ASX-listed nickel producer Blackstone Minerals Limited (ASX: BSX) (Blackstone), and rare earth element (REE) refiners, Vietnam Rare Earth Company (VTRE).

The MOU was signed at a formal ceremony at the Australian Embassy in Hanoi, Vietnam.

ASM Managing Director & CEO Rowena Smith said:

This MOU has the potential to drive a more collaborative approach within the rare earth elements and critical minerals sector and deliver positive outcomes for all parties involved.

We have already established a strong relationship with the VTRE team and I am excited by the progress they are making to increase their oxide production capacity. The partnership they are looking to build with Blackstone has the potential to benefit ASM’s existing supply of rare earth oxides for processing at the KMP.