Australian Strategic Materials (ASM) has been recognised at the AustCham Korea Australia-Korea Business Awards 2026, taking out the Resources, Minerals and Processing category. The award acknowledges the Company’s achievement in building one of the few rare earth metals and alloys production facilities outside China.
The award was accepted in Seoul by Mr Nam-eun Hur, Representative Director at Korean Strategic Materials Metals (KSMM) – ASM’s wholly owned subsidiary responsible for operating the Korean Metals Plant (KMP).
The Awards recognise outstanding contributions to the Australia–Korea business relationship – celebrating organisations that are building strong, more dynamic and more diverse economic ties between the two countries. ASM’s win reflects the Company’s work in establishing a vertically integrated critical minerals supply chain spanning both countries – from resource development at the Dubbo Project in New South Wales through to metals production at the KMP in Chungcheongbuk-do Province.
Since commencing operations, the KMP has established commercial-scale production of neodymium-praseodymium (NdPr) metal and neodymium iron boron (NdFeB) strip alloy – essential inputs for the permanent magnets used in sustainable technologies, defence applications and advanced manufacturing. In 2025, the facility achieved its first commercial sale of heavy rare earth metals – terbium (Tb)and dysprosium (Dy) – placing ASM among only a handful of companies globally with proven heavy rare earth metallisation capability outside China.
Importantly, the facility has maintained a zero Lost Time Injury Frequency Rate and achieved carbon neutrality for three consecutive years.
ASM Managing Director and CEO Rowena Smith said the award was a testament to the KMP team’s efforts in building a genuinely differentiated capability.
“This recognition reflects the dedication and expertise of our team in Korea, who have built and operated a facility that the world increasingly needs. At a time when supply chain security for rare earth materials has never been more important, ASM is proud to be at the forefront of this rapidly evolving and critical sector.”