Australian Strategic Materials (ASM) has released its Quarterly Activities Report for the period ending 30 September 2025, reporting increased production at the Korean Metals Plant (KMP) and major progress across its mine to metals strategy.
Key highlights include:
- Increased metal and alloy production from the KMP to meet growing demand
- 16.7 tonnes NdFeB alloy produced, 13.9 tonnes dispatched
- 1.7 tonnes NdPr metal produced, 22.2 tonnes dispatched
- Major heavy rare earth metal milestone
First commercial sale of terbium and dysprosium metals to Neo Performance Materials. - KMP expansion
Installation of an additional furnace to support the total production capacity of the current strip caster. - Heap Leach Scoping Study delivered
Transformative shift in the Dubbo Project’s development approach, accelerating the pathway to rare earth production and cash flow generation. - Pursuing strategic partnerships
Exploring strategic partnerships to strengthen the Company’s position within the rare earth supply chain. - Strengthened financial position with A$24.9 million raised during the quarter through an oversubscribed Share Purchase Plan and Institutional Placement
Post-quarter, ASM secured firm commitments to raise a further A$55 million to fully fund Phase 2 expansion of the KMP and support metallisation growth initiatives.
ASM Managing Director and CEO Rowena Smith said the current geopolitical environment has created urgency for alternative rare earth supply chains – precisely the challenge ASM has been preparing to address through its mine to metals strategy.
“At a time of such volatility and uncertainty, it is pleasing that ASM can report increasing sales and production of rare earth metal and alloy from the Korean Metals Plant (KMP) – differentiating our Company on a global scale and positioning us to capitalise on the pressing need for secure, ex-China critical mineral supply chains.”
Rowena Smith, MD & CEO