First sale of NdPr metal from Korean Metals Plant

Australian Strategic Materials (ASM) subsidiary, KSM Metals Co., Ltd, has signed a binding agreement (Sales Agreement) for the sale of neodymium praseodymium metal produced at its Korean Metals Plant with Korean company NS World Co., Ltd (NS World).

The Sales Agreement provides for the sale and delivery of up to 10 tonnes of neodymium praseodymium metal ingot from September 2022 to December 2022.

NS World intends to use this metal in the production of bonded magnets.

ASM’s Chief Executive Officer Rowena Smith said: “Securing the first sale of neodymium praseodymium ingot from our Korean Metals Plant is an important milestone for ASM.  In just over a year, we have taken our Korean Metals Plant from start of construction to commercial production.  This is a remarkable feat of dedication from our team.”

“Our commissioning and ramp-up at the Korean Metals Plant will continue over the second half of 2022.  We look forward to securing further sales contracts in the coming months and will update the market as contracts are finalised.”

ASM