Quarterly Report: Building the rare earth supply chain the West needs

30/04/2026

Australian Strategic Materials (ASM) has released its Quarterly Activities Report for the period ending 31 March 2026.

Two factory workers in safety gear operate a hoist to lift a metal container in an industrial facility.

“During a quarter when both the Australian and US governments announced major investment vehicles to secure strategic critical minerals, ASM’s proposed Schemes with Energy Fuels strongly align with the objectives of these governments to deliver the alternative rare earth supply chain the Western world is demanding.”

Rowena Smith
Managing Director & CEO, ASM

Highlights

  • Advancement of activities required to execute Energy Fuels transaction
  • >70% increase in NdFeB alloy delivery quarter-on-quarter
  • Heavy rare earth production and new equipment installed
  • Civil foundation works completed to support the increase of the number of furnaces at KMP, from four to 12
  • MREP concept study progressed in parallel with Heap Leach Option PFS work at Dubbo Project
Read the Quarterly Report