Hightlights
- ASM receives a A$5 million federal grant for rare earth minerals.
- The funding aids the critical minerals industry’s growth in Dubbo, NSW.
- Key focus on sustainable and non-Chinese supply chains for rare earths.
A publicly traded Australian company called Australian Strategic Materials (opens in a new tab) (ASM) secured a A$5-million grant from the Australian federal government’s International Partnerships in Critical Minerals (IPCM) program to help mine rare earth minerals.
The funding, which will be matched by ASM, meaning 10 million Australian dollars total to advance the company’s rare earths agenda, reports the company in a press entry. (opens in a new tab)
The company may be considered particularly important for Australia, given rare earths and critical metals are considered strategically important due to their use in clean energy technologies, defense, and electronics. ASM is positioned to provide a reliable, non-Chinese supply of these materials, which has become a priority for countries seeking to reduce dependency on China, which currently dominates global rare earth supply chains.
ASM reports the IPCM grant supports the firm’s rare earth options assessment and pilot initiative involving the exploration of lower capital and faster pathways to rare earths production.
A media release issued by Minister for Resources the Hon Madeleine King MP, said the Albanese Government is putting Dubbo at the heart of its plans to grow Australia’s critical minerals and rare earths industry in New South Wales by providing further support for miner Australian Strategic Materials Limited.
“Government support to refine rare earths is important for our sovereign capabilities and will help our trading partners meet their economic, national security and emission reduction commitments,” said Minister King. Minister for Resources the Hon Madeleine King MP (centre) visited the Dubbo Project to announce the IPCM grant funding for ASM. Left: Mark Coulton MP, Federal Member for Parkes. Right: Chris Jordaan, ASM Chief Operating Officer.
A Pilot Program
The RE Options Assessment and Pilot Program will involve engineering, sampling, metallurgical testing, and a pilot program at ASM’s pilot facility located at ANSTO (Australia’s Nuclear, Science and Technology Organization) in New South Wales. In addition, ASM will be working with international partners to deliver the program of work. These activities are critical to ASM progressing key funding activities and taking final investment decision on the Dubbo Project which is targeted for the first half of 2026.
Geotechnical drilling being conducted at the Dubbo Project as part of the RE Options Assessment
Ms. Rowena Smith, ASM Managing Director & CEO said, “This funding recognizes the Dubbo Project’s national and international strategic importance. With this funding, we will be able to undertake important work to identify lower capital and shorter implementation pathways to unlock rare earth production at the Dubbo Project and ensure a focused completion of our final FEED (Front-End Engineering Design).”
The Company
Australian Strategic Materials (opens in a new tab) (ASM) is an Australian company focused on producing and supplying critical metals and rare earths for advanced technologies. These materials are essential for industries such as renewable energy, electric vehicles, electronics, aerospace, and defense. ASM’s goal is to establish a vertically integrated supply chain, from mining and processing to manufacturing, ensuring a stable and secure supply of strategic materials to global markets.
Key Aspects of Australian Strategic Materials
ASM focuses on rare earth elements (REEs) and critical metals such as neodymium, praseodymium, zirconium, hafnium, and tantalum. These materials are vital for high-tech applications, including permanent magnets used in electric vehicles and wind turbines, as well as in aerospace and defense industries.
So, what is the Dubbo project?
ASM’s flagship project is the Dubbo Project (opens in a new tab) in New South Wales, Australia. This polymetallic resource contains large quantities of rare earths, zirconium, niobium, and hafnium. The Dubbo Project is considered one of the world’s most advanced projects for producing these critical materials.
The project has completed various stages of development, including approvals and pilot processing, and is moving toward becoming a key supplier of strategic materials globally.
But the company has also established the Korean Metals Plant (KMP) in South Korea, where it processes and manufactures high-purity metals and alloys. The plant is designed to refine and separate metals from the materials mined in Australia. This vertically integrated approach enables ASM to supply value-added products to the global market.
The KMP plays a significant role in ASM’s strategy to establish a strong presence in the advanced materials manufacturing sector, particularly in East Asia.
Market Position and Future Outlook
ASM is positioned as a critical player in the global supply chain for rare earths and strategic metals. The growing demand for electric vehicles, renewable energy technologies, and defense applications makes ASM a company of increasing importance in the global shift toward sustainability and technological advancement. The company’s vertically integrated model, from mining to advanced manufacturing, provides a competitive edge in a market where supply chain security is becoming increasingly critical.
As the world shifts toward green technologies and supply chain diversification, ASM’s role in supplying essential materials will likely become even more important in the coming years.
Daniel
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