Highlights
ASM Metals Business
- Completed acquisition of 95% interest in joint venture partner Ziron Technology Corporation (Ziron Tech)
- Produced 8.6kg of high-purity zirconium metal powder at 98% Zr and 1.5% Hf
- Korean Atomic Energy Research Institute (KAERI) confirmed de-hafniated zirconium metal meets Korean market requirements
- Agreement with Dongkuk Refractories & Steel to design, develop, assemble, install and verify a 250kg/day commercial plant
- Produced 120kg of titanium copper alloy (99.5% purity)
- Confirmed commercial scalability of the innovative metallisation process
- Confirmed significant environmental benefits of innovative metal process
- Produced 200kg of ferro-neodymium (FeNd – Nd 80%, Fe 20%), a key constituent of strip cast permanent magnet alloys
- Produced 6kg of a neodymium iron boron (NdFeB) magnet alloy at the Korean Institute of Rare Metals (KIRAM) facility
Dubbo Project Optimisation
- Optimisation Feasibility Study (OFS) on track for completion at the end of Q1 2021
- Confirmed the simplification of the Zr circuit, with negligible impact on de-hafniated zirconium circuit
- Independent review of rare earth processing circuit confirmed the validity of the Dubbo Project flow sheet and also identified opportunities for optimisation
- Optimisation of the flow sheet informed finalisation of the OFS scope, with Hatch proceeding on this basis
- Mining consultants engaged for OFS mining costs update
- Utilities, reagents, and consumables quantities have been confirmed, with potential providers invited to quote on supply, capital costs, and delivery
- Requests for quotations for the supply of the processing plant have been sent to key suppliers, with updated pricing information expected by the end of February 2021
- Logistics analysis is well advanced with no major issues identified in delivery and export
Corporate
- Cash position totalled A$ 12.4 M
- Executed and progressed non-disclosure agreements with large Korean EPC companies during the quarter
- Executed agreement with Dongkuk Refractories & Steel to complete the design, development, and construction of a commercial metal plant. Detailed engineering is expected in Q2 2021
- Progressed discussions with potential strategic partners
- Continued discussions about metal offtake agreements with potential Korean manufactures
- Continued discussions with key Korean Government departments Korean Institute of Technology, Korean Institute of Rare Metals, Ministry of Trade and Industry.