AUSTRALIAN STRATEGIC MATERIALS LIMITED

AUSTRALIAN STRATEGIC MATERIALS LIMITED (ASX: ASM)

ASM has been awarded a $6.5 million grant from the Australian Government's Critical Minerals Development Program for its Dubbo Project.
The funding will be used for EPC Definition activities regarding non-process infrastructure, including residue storage, site water management, and utility design.
ASM will co-contribute $8.85 million to the estimated total cost of $15.35 million for these activities, which are set to begin in June 2023.

2023-05-18 10:14:00

Australian Strategic Materials (ASM) has signed an agreement to sell 100 tonnes of neodymium iron boron (NdFeB) alloy to US-based rare earth magnet manufacturer Noveon Magnetics Inc.
The strategic partnership aims to establish long-term offtake for rare earth materials supporting magnet production.
Both companies are working towards meeting Noveon's supply requirements and growing their partnership.

2023-05-16 08:15:00

ASM signs binding agreement with Vietnam Rare Earth Company (VTRE) for the purchase of rare earth oxides as feedstock at ASM's Korean Metals Plant (KMP).
VTRE will deliver 100 tonnes of product for the remainder of 2023, with pricing based on a formula referencing market prices for neodymium-praseodymium oxide.
Both parties commit to good faith negotiations for a longer-term supply agreement, providing multi-source feedstock options and broadening oxide sales opportunities.

2023-05-01 08:11:00

Rowena Smith has been appointed as Managing Director of ASM to take effect 6 March 2023.
Since becoming CEO in July 2022, she has led the company through a successful capital raising and the commencement of the EPC Definition work for the Dubbo Project.
Ms Smith is a highly experienced global mining executive with over 30 years' experience in various senior roles.

2023-03-06 08:14:00

HEC contracted to perform EPCD work for ASM subsidiary ASMH in relation to the Dubbo Project.
Variation to the EPCD allows HEC to commence work in stages.
Overall price of the EPCD remains unchanged at $46.7m.

2023-01-09 09:23:00