Today we released our Financial Report for the year ended 30 June 2023 (FY23). FY23 represents a milestone year for ASM’s mine to metals business, having commenced production from our first metallisation plant. Korean Metals Plant ramping upThe Korean Metals Plant (KMP) is ASM’s foundational downstream metallisation plant, opened in May 2022. During FY23, the…
Global mining executive Ms Rowena Smith, has been appointed as Chief Executive Officer of ASM, after former Managing Director, Mr David Woodall stepped down. Ms Smith has been ASM’s Chief Operating Officer since joining the company in 2021. During this time she has led ASM’s critical minerals and rare earths Dubbo Project team, and overseen…
The Australian Strategic Materials (ASM) Quarterly Activities Report to 31 March 2022 has been released. Key points for the Quarter include: Buildings and facilities at the Korean Metals Plant (KMP) were completed, with the Plant Registration certificate received on 7 April 2022. The installation and commissioning of the first phase of the KMP will continue…
The Australian Strategic Materials (ASM) Quarterly Activities Report to 30 December 2021 has been released. Highlights for the Quarter included: Released the Dubbo Project Optimisation Study– A capital cost estimate of AUD 1,678 million with pre-tax NPV of AUD 2,361 million, pre-tax IRR of 23.5%, and annual free cash flow (full ramp-up) of AUD 425…
Australian Strategic Materials Limited (ASM) is pleased to advise that the consortium of South Korean Investors, comprising Cerritos Holdings Co., Ltd, Kamur Partners LLC and ACE Equity Partners LLC, (the Investing Partnership) has successfully completed due diligence on the Company’s flagship Dubbo Project. This represents a key milestone in progressing the consortium fund’s proposed conditional…
Australian Strategic Materials Limited (ASM) is pleased to advise the appointment of Kerry Gleeson as Non-Executive Director to the Board effective 1 February 2022. Ms Gleeson is an experienced independent Non-Executive Director, chair and committee member with over two decades of experience as a director, senior executive and board advisor of various ASX listed companies….
Australian Strategic Materials Limited (ASX: ASM) is pleased to announce that it has signed a Joint Statement of Cooperation with the Korean Mine Rehabilitation and Resource Corporation (KOMIR), the renamed Korean Resources Corporation (KORES), to enable the supply of critical minerals and metals into Korea. Under the Joint Statement of Cooperation, ASM and KOMIR have…
Key points Optimisation Work for Dubbo Project confirms a strong expected rate of return with pre-tax NPV of AUD 2,361 million, pre-tax IRR of 23.5%, and annual free cash flow (full ramp-up) of AUD 425 million Capital cost estimate of AUD 1,678 million consisting of direct capital of AUD 1,307 million, indirect capital of AUD…
The Annual General Meeting (AGM) of Australian Strategic Materials was held on 30 November 2021 as a virtual meeting.
Highlights Signing a $US250m framework agreement with South Korean consortium for 20% interest in Dubbo Project and offtake from Korean Metals Plant (ASX Release 21 July 2021: Framework Agreement for 20% stake in Dubbo Project and Offtake) Construction of the Korean Metals Plant continuing, commissioning planned to commence before calendar year end The Dubbo Project…