The Dubbo Project

The Dubbo Project – a globally significant project in the national interest.

ASM’s Dubbo Project is the Company’s cornerstone rare earths and critical minerals mining and processing project

Located in New South Wales, Australia, this globally significant polymetallic resource contains rare earths, zirconium, niobium, and hafnium – materials essential for clean energy technologies, advanced manufacturing, and defence applications.

ASM intends to develop the Dubbo Project to produce a range of metal oxides and mixed chlorides. Long-term, these products will be used for refining into critical metals and alloys at our metals plants, the first of which is established in South Korea.

The Dubbo Project positions ASM as a future leader in critical minerals production outside China.

Watch: The Dubbo Project
A unique ore body positioned to meet global demand.

Key facts

23.5% pre-tax IRR
A$425 million annual free cash flow
A$1,678 million capital cost estimate including contingency

All major approvals in place
Land and water licences owned

Developed in partnership with ANSTO

25kms from Dubbo, NSW Australia
400kms northwest of Sydney

Up to 1,000 local jobs during the construction period
Approximately 270 local jobs when operational

Scope 1 – targeting 40% reduction¹ by 2030, and carbon net zero by 2050
Scope 2 – targeting carbon net zero by 2030

¹ From the baseline predicted CO2 emissions published in the Dubbo Project Modification Report 1 – State Significant Development 5251 dated March 2022

Located in the Central West Orana Renewable Energy Zone

Sunrise over a wide, flat landscape with distant mountains on the horizon and fields in the foreground.

Location

The Dubbo Project is located near the Australian town of Toongi, 25 km south of Dubbo, in central-western New South Wales (NSW).

The project site is approximately 400 km northwest of Sydney and Newcastle. Both these major cities connect to Dubbo via road and rail.

Status

The Dubbo Project is construction ready, with all major permits approved.

In December 2021, an Optimisation Study was completed, confirming strong financial results. The Optimisation Work simplified the Dubbo Project process flow sheet and incorporated new operating strategies that will reduce operating costs and improve ESG performance.

Optimisation Study

In March 2023, Bechtel Mining and Metals, Inc., (Bechtel) was appointed to conduct Front-End Engineering Design (FEED) services for the Dubbo Project. The contract will deliver a critical path to final investment decision for the Dubbo Project and enhance new funding opportunities in the US.