Australian Strategic Materials (ASX:ASM) has reported ‘excellent’ pilot plant heavy rare earth separation testwork results from its Dubbo Project in New South Wales.
The $240.99 million market capitalisation company says the results confirm the design capability of project’s process flowsheet to produce terbium (Tb) and dysprosium (Dy) oxides at an ‘industry-leading’ product quality.
The results show that the process is capable of producing Tb and Dy oxide product streams that meet or exceed target specifications of more than 99.99% for Tb and more than 99.95% Dy, at steady-state.
Australia’s Nuclear Science and Technology Organisation (ANSTO) conducted the pilot plant testwork, which was funded via a $500,000 grant from the New South Wales Government’s Critical Minerals and High-Tech Metals Activation Fund.
Australian Strategic Materials Managing Director and Chief Executive Officer (CEO) Rowena Smith says the Dubbo Project’s ability to produce light and heavy rare earth oxides at a high purity sets the company apart and allows it to offer industry-leading product quality to its offtake partners.
“Terbium and dysprosium oxides are not only scarce commodities, they are very difficult to separate at high purity.
“we are positioning the Dubbo Project to be at the forefront of Australia’s rare earth and critical minerals evolution”
With the continued expertise of the team at ANSTO and the welcome support of the New South Wales Government, we are positioning the Dubbo Project to be at the forefront of Australia’s rare earth and critical minerals evolution.”
The company says it’s currently progressing investment and offtake opportunities for the Dubbo Project across several jurisdictions, targeting a final investment decision by the end of next year.
The Dubbo Project is located near Toongi, 25km south of Dubbo in central-western New South Wales, Australia.
Australian Strategic Materials is an emerging vertically integrated producer of critical minerals for new growth industries, high technologies, and sustainable energy solutions.
The company is set to exhibit at the upcoming International Mining and Resources Conference (IMARC) held in Sydney from 31 October to 2 November 2023. Mining.com.au is an official media partner of IMARC, which will showcase 500-plus mining leaders and resource experts throughout 7 concurrent conferences.
As of 30 June 2023, the company had $56.7 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Australian Strategic Materials
