ASM makes a deal with USA Rare Earth
PERTH (miningweekly.com) – ASX-listed Australian Strategic Materials (ASM) has signed a five-year sales and tolling framework agreement with US-based USA Rare Earth for the supply of neodymium iron boron (NdFeB) alloy.
First supply of NdFeB from ASM’s Korean metals plant (KMP) is expected in 2024, and the framework agreement provides for the supply of 60% of USA Rare Earth’s NdFeB alloy demand for its Stillwater facility, in Oklahoma.
“USA Rare Earth’s magnet manufacturing capability and approach to market makes them a perfect customer and partner for ASM. As we continue to increase our metal production output from our KMP, this long-term supply agreement demonstrates the growing demand and positive trajectory of the US rare earth magnet market,” said ASM MD Rowena Smith.
KMP was officially opened last year, and will produce critical metals and alloys to customer specifications, using ASM’s patented, energy efficient metallisation process. The initial focus will be on NdFeB and titanium alloy.
“Having a supply agreement in place with ASM plays a critical role in delivering on our vision of achieving magnet production in 2024,” said USA Rare Earth CEO Tom Schneberger.
“ASM provides us with predictable access to a non-Chinese supply of rare earth metals, which allows us to ramp up our initial production and accelerate our goal of generating revenue, while we continue to construct our own mine.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
