October 20, 2025 – Australian Strategic Minerals (ASM) has raised $55 million in new investment funding to support several growth initiatives in its mines-to-metals strategy:
- Completion of Phase 2 expansion at the Korean Metals Plant to double NdFeB alloy production capacity to 3,600 tonnes per annum.
- Advance additional downstream expansion activities in Korea and/or the United States.
- Pursue strategic partnerships to support the development of a secure, alternative global rare earth supply chain.
“This strongly supported Placement reflects growing global recognition of ASM’s proven capability in downstream rare earth metallisation and our broader mine to metals strategy,” declared Rowena Smith, managing director. “We are now fully funded to execute our Phase 2 ramp-up plan at the Korean Metals Plant.” Completion of the Phase 2 expansion activities will double the company’s existing NdFeB alloy capacity to 3,600 tons per year.
“Over the past six months, we have witnessed a seismic shift in the dynamics of the rare earths market. Geopolitical tensions, trade disputes and tightened export controls have shaken global supply chains – driving governments, manufacturers and investors into action and to seek secure alternative supply chains. In this unpredictable and volatile environment, the KMP represents an established, stable producer of rare earth metals and alloys, and offers a long-term, secure supply of critical materials.”
“With such compelling international demand growth, we will also advance additional expansion initiatives – either through further development of the KMP to its full capacity of 5,600 tpa, or to support the capital costs of establishing our second metals plant, currently planned for the US. ASM’s mine to metals strategy has long recognised the risks associated with current rare earth and critical minerals supply chains, particularly in the downstream processing of these materials. It is why the Company made the development of metallisation capability in Korea a strategic priority, and why ASM’s vertically integrated approach is unique across the ASX rare earth mining and processing sector.”
“While ASM’s downstream capability is a key differentiator to our peers, we have long advocated for cross jurisdictional collaboration and partnerships that will enable and strengthen the establishment of alternative global supply chains. I am pleased to note that we are now witnessing broader market recognition that this approach is the right one. With an improving policy environment, we are seeing multiple opportunities to collaborate with government and industry peers to strengthen ASM’s position across the rare earth supply chain.
Ramp-up and expansion continue at KMP toward an objective of establishing the facility as a globally recognized source of critical metals and alloys, targeting the production of light and heavy rare earth metals and alloys, titanium alloys, zirconium metal, and hafnium metal. Details about the facility and ASM’s mineral resources were presented previously in this article in Magnetics Magazine. For more info, see www.asm-au.com.
