Australian Strategic Materials (ASM) Managing Director and CEO Rowena Smith, spoke to Proactive Investor’s Jonathan Jackson following two exciting announcements regarding development and funding progress for the Company’s rare earths and critical minerals Dubbo Project.
Watch the full interview below…
Australian Strategic Materials (ASM) is pleased to advise that its subsidiary Australian Strategic Materials (Holdings) Pty Ltd (ASMH) has appointed global engineering company Bechtel Mining and Metals, Inc (Bechtel) to conduct Front-End Engineering Design (FEED) services for ASM’s rare earths and critical minerals Dubbo Project in New South Wales (NSW).
Highlights
Australian Strategic Materials (ASM) is pleased to announce it has received a non-binding Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) to provide a debt funding package of up to US$600 million (A$923 million) for the construction and execution phase of the rare earths and critical minerals Dubbo Project.
Highlights
ASM Managing Director and CEO Rowena Smith was in Toronto, Canada earlier this month for the 2024 PDAC Convention.
PDAC is one of the world’s largest mineral exploration and mining events and this year’s convention provided a host of opportunities for engagement with government, investors, customers and suppliers.
As well as presenting the ASM opportunity at the Australia Presentation Day, Rowena participated in the critical minerals roundtable hosted by Australia’s Minister for Resources the Hon Madeleine King (above). Minister King also released a joint statement with Canada’s Minister for Energy and Natural Resources, Jonathan Wilkinson, outlining the shared priorities both countries will cooperate on to build the critical minerals supply chain.
Rowena also had the chance to sit down with Jack Lifton and Tracy Weslosky from Investor News to discuss ASM’s latest funding activities for the Dubbo Project and operational objectives at the Korean Metals Plant. You can watch both interviews below.
Today we released our Interim Financial Report for the half-year ended 31 December 2023.
Key milestones during the half-year included:
Watch Australian Strategic Materials Managing Director & CEO Rowena Smith present the ASM mine to metals story at the Bell Potter Unearthed Conference 2024.
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.
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.”
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:
During 2023, Australian Strategic Materials (ASM) made strong progress against its mine to metals strategy.
Delivering on strategic and operational milestones, we have laid the foundations for critical next steps at our Dubbo Project and Korean Metals Plant that will drive our momentum in 2024.
As the year draws to a close, take a look at some of the progress we’ve made over the past 12 months.
ASM is pleased to note that materials to be produced from its globally significant Dubbo Project remain firmly on the Australian Government’s updated Critical Minerals List.
The revised list has been launched by Federal Minister for Resources the Hon Madeleine King MP.
The unique, long-life Dubbo Project deposit will produce the rare earth elements of neodymium, praseodymium, dysprosium and terbium, in addition to zirconium, hafnium and niobium. These elements all play a critical role in the global clean energy transition.
According to the Department of Industry, Science and Resources, Australia’s Critical Minerals List contains minerals:
The full Critical Minerals List can be viewed, here.
Once operational, the Dubbo Project will mine, separate and refine its materials onsite to produce metal oxides and mixed chlorides. Products will then be shipped to ASM’s metallisation plants and/or direct to global customers.
