Quarterly Activities Report to 30 June 2023

We are pleased to advise our Quarterly Activities Report to 30 June 2023 has been released.

In line with ASM’s strategic business priorities, this Quarter the Company:

  • Commenced a strategic partnership with US-based rare earth magnet manufacturer Noveon Magnetics Inc., with the sale of an initial 100 tonnes of NdFeB alloy from ASM’s Korean Metals Plant (KMP);
  • Secured the supply of rare earth oxides with a binding agreement with Vietnam Rare Earth Company, to ensure the continued ramp-up of production at the KMP;
  • Progressed its diversified funding strategy for the Dubbo Project via the award of a $6.5 million grant under Tranche 2 of the Australian Government’s Critical Minerals Development Program; and
  • Demonstrated an ongoing commitment to safety and quality in our operations, having been awarded ISO 45001 (OHS Management System) accreditation and recognised as an industry leader by the Daejeon Regional Office of the Ministry of Employment and Labor for the risk assessment practices implemented at the KMP.