Quarterly Activities Report to 31 December 2020


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
ASM’s Chairman Ian Gandel and Managing Director David Woodall with the successful Ziron Tech team that delivered commercial metal production.

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


  • 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.


Download the Full Quarterly Report