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Australian Strategic Materials Ltd ( (AU:ASM) ) has shared an update.
ASM has achieved a significant milestone with its first sale of heavy rare earth metals, specifically terbium and dysprosium, to Neo Performance Materials. This sale, along with the additional sale of 10 tonnes of neodymium-praseodymium, highlights the growing demand for ASM’s products and strengthens its partnership with Neo. The signing of a Memorandum of Understanding between ASM and Neo aims to explore broader collaboration across supply, tolling, and innovation, positioning ASM as a key player in the evolving rare earth magnet supply chain. This collaboration supports ASM’s strategic expansion plans, including the development of a second metals plant in the United States, amid increasing global demand and geopolitical interest in secure supply chains for critical materials.
More about Australian Strategic Materials Ltd
Australian Strategic Materials Limited (ASM) operates in the rare earth metals industry, focusing on the production and supply of high-purity heavy rare earth metals. The company is advancing its capabilities in this sector with a focus on building a resilient and dependable supply chain for critical materials essential for advanced manufacturing and clean energy applications.
Average Trading Volume: 485,612
Technical Sentiment Signal: Sell
Current Market Cap: A$105.2M
For an in-depth examination of ASM stock, go to TipRanks’ Overview page.