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Australian Strategic Materials (ASX:ASM) - Managing Director, David Woodall
Managing Director, David Woodall
Source: Australian Strategic Metals
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  • Australian Strategic Materials (ASM) begins commissioning at its Korean Metals Plant in South Korea
  • The hot commissioning of the neodymium furnace includes firing up the plant’s furnaces, processing feed material and casting the plant’s first ingots of neodymium metal
  • The company says this represents the first phase of commissioning activities, with phase one set to continue through the first half of 2022
  • ASM aims to have the full scale, 5,200 tonnes per annum plant due for completion in the second half of 2022
  • Australian Strategic Materials is up 5.1 per cent to $13.40 at 9:49 am AEDT

Australian Strategic Materials (ASM) has begun commissioning at its Korean Metals Plant in Ochang Province, South Korea.

The hot commissioning on the neodymium furnace includes firing up the plant’s furnaces, processing feed material and casting the plant’s first ingots of neodymium metal.

The commissioning was marked by a visit to the plant by Deputy Prime Minister of South Korea, Hong Nam-ki.

The company said this represents the first phase of commissioning activities, with additional modules undergoing construction and installation. Phase one is set to continue through the first half of 2022.

Australian Strategic Materials Managing Director, David Woodall, explained the hot commissioning milestone is a big step toward the company’s completion of the Korean Metals Plant.

“The team in South Korea has worked tirelessly to put us in a position to start commissioning activities at the Korean Metals Plant, despite the logistical and supply constraints as a result of COVID,” explained David Woodall.

David Woodall said although more work is required to complete the installation of the facility and commission the full plant, this is an early sign the plant is working as expected for this stage.

“Australian Strategic Materials is moving closer to producing commercial quantities of titanium and permanent magnet alloy, as part of our strategy to provide an alternative, secure supply chain for critical metals,” said the Managing Director.

ASM said the full scale, 5200 tonnes per annum plant is due for completion in the second half of 2022.

Australian Strategic Materials is up 5.1 per cent to $13.40 at 9:49 am AEDT.

ASM by the numbers
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