leadf
logo-loader
viewAustralian Strategic Materials Ltd

Australian Strategic Materials produces 7.5 kilograms of high purity dysprosium metal

Production of this heavy rare earth metal at a larger-scale marks completion of the final key permanent magnet metals to be produced at the Ziron Tech facility.

Australian Strategic Materials Ltd - Australian Strategic Materials produces 7.5 kilograms of high purity dysprosium metal
Dysprosium metal of 99.53% purity produced at the Ziron Tech Pilot Plant

Australian Strategic Materials Ltd (ASX:ASM) has produced a large 7.5-kilogram sample of a high-purity dysprosium metal through partner Ziron Technology Corporation at its commercial pilot plant in South Korea.

After producing 0.76 kilograms of the heavy rare earth metal last month, this second run confirms that the production can be done at a larger scale thus marking the completion of the final key permanent magnet metals to be produced at the Ziron Tech facility.

ASM has now produced neodymium, praseodymium, neodymium praseodymium alloy and dysprosium, which are all key for permanent magnets, through the commercial pilot plant using its innovative metallisation process.

“One step closer”

ASM managing director David Woodall said: “ASM is progressing further in its development to become an integrated mine to metal business, with the successful production of the heavy rare earth metal, dysprosium.

“With the production of these key permanent magnets metals and metal alloys and the development of zirconium metal production, ASM is one step closer to converting all products from the Dubbo Project into value-adding metals.”

The company has a market cap of approximately $251.2 million and shares are up almost 12% to $2.36.

ASM and Ziron Tech has started work on the production of ferro-dysprosium and zirconium metals.

These are anticipated to be the final products metallised from material sourced from ASM’s Dubbo Project in Central West NSW.

Ramping up

Woodall said: “Our focus is now on commencing the design and construction of a 250 kilograms per day continuous metal plant in Korea.

“This is the first phase of our strategy to develop a 3,000-5,000 tonnes per year plant designed to meet some of the demand for critical materials in the Korean manufacturing sector.”

The company’s metallisation process uses significantly less energy and has less impact on the environment than existing industry-standard metallisation processes.

Following the successful demonstration of cost-effective technology to produce rare earth metals, it has received interest from several leading South Korean companies and government organisations.

Woodall said: “ASM continues to advance discussions for a potential partner in the metal business.”

Success in producing permanent magnet metals also prompted ASM to acquire joint venture partner, Ziron Tech, to carry on the development of its clean metallisation process and production for the Korean industry.

Quick facts: Australian Strategic Materials Ltd

Price: 3.88 AUD

ASX:ASM
Market: ASX
Market Cap: $461.91 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Australian Strategic Materials Ltd named herein, including the promotion by the Company of Australian Strategic Materials Ltd in any Content on...

FOR OUR FULL DISCLAIMER CLICK HERE

Australian Strategic Materials focused on new plant construction and talks...

Australian Strategic Materials Ltd's (ASX:ASM) Dave Woodall speaks to Proactive's Andrew Scott soon after announcing they've produced 8.6 kilograms of high-purity zirconium metal at the commercial pilot plant of partner Ziron Technology Corporation in South Korea. Zirconium powder produced with...

on 20/10/20

2 min read