Company overview

Established as the holding company for the Dubbo Project, ASM is focused on producing specialty metals and oxides for advanced technologies. ASM is a wholly-owned subsidiary of Alkane Resources Ltd, but the Alkane Board is actively considering a demerger to list ASM independently on the Australian Securities Exchange (ASX).

Located in central-western NSW, ASM’s cornerstone Dubbo Project has a long-term resource of zirconium, rare earths, niobium and hafnium– a globally significant source of these critical materials for a diverse range of emerging and sustainable technologies.

In a joint venture with South Korea’s Zirconium Technology Corporation (ZironTech), ASM is advancing oxide separation and metallisation technologies to create a range of value-added materials from market-available precursors and, ultimately, Dubbo Project outputs. Our pilot plant is in the final stage of construction in South Korea and production will commence in mid-2020.


As part of our commitment to shareholders, ASM drives success by building strategic partnerships and leveraging opportunities within Australia and globally for long-term customer relationships.

Our long-standing partnership with the Australian Nuclear Science and Technology Organisation (ANSTO) and our joint venture with South Korea’s ZironTech enable ASM to produce extremely pure and highly processed speciality materials essential to global manufacturing markets.

Market research confirms that zirconium, hafnium, niobium and rare earth materials are in high demand for a range of existing and emerging technologies – in particular, clean energy and transport require them in high volumes.

Two key initiatives

1. Dubbo Project

ASM’s Dubbo Project will process zirconium, rare earths (including praseodymium and neodymium), niobium, and hafnium from a long-term resource in central-western NSW, producing a range of high-purity, value-added oxides and metals.

The Dubbo Project represents a significant, sustainable and reliable primary source of these critical materials, to meet escalating demand and decrease supply chain risks to Australian and global markets.

With all approvals and licences in place, the Dubbo Project is ready for construction and ASM has high confidence for execution. We are monitoring product demand and will seek further investment for the project when market conditions are right.

2. Independent metals technology facility

ASM has undertaken more than 10 years of development with ANSTO to recover, purify and add value to the outputs of the Dubbo Project, increasing our range of products and profitability. In 2019, ASM initiated a joint venture with South Korea’s Ziron Tech to pilot the production of hafnium and zirconium by combining our proprietary process with ZironTech’s metallisation technology (developed at South Korea’s Chungnam National University; ASM has exclusive global commercialisation rights under licence).

The pilot plant of our metals technology facility will commence production in mid-2020, allowing a definitive feasibility study and:

  • providing an opportunity to prove capability for commercial-scale production of hafnium and zirconium
  • enabling ASM to build strategic customer relationships for offtake agreements
  • establishing the capability to process other Dubbo Project outputs, including rare earth metals, in Australia and South Korea, and
  • growing a sustainable business to enhance ASM’s financial status.

Dubbo Project

Our cornerstone is the Dubbo Project, which represents a sustainable and reliable source of the critical materials zirconium, hafnium, rare earth elements and niobium.

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We've taken a unique approach towards conservation and land management with our wholly owned Toongi Pastoral Company, which manages the land and property assets surrounding the Dubbo Project.

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Metals Technology

We're investing in new technologies related to the separation and metallisation of oxides to produce high-purity and value-added critical materials.

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ASM will produce a range of high-purity and value-added zirconium, hafnium, rare earth and niobium materials for use in many current and future technologies.

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