Korean Metals Plant, Korea – update
Name of the Project
Korean Metals Plant.
Location
Korea.
Project Owner/s
ASX-listed Australian Strategic Metals (ASM).
Project Description
A scoping study on a proposed 5 200 t/y metals plant has shown strong economics.
The plant will initially produce high-purity neodymium iron boron powder and titanium powder using the low-energy metallisation process developed and patented by ASM.
There are also plans to expand the plant to more than 16 000 t/y by 2024.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The project is estimated at between $35-million and $45-million.
Planned Start/End Date
Construction of the plant is expected to be completed by mid-2022, with metal production to progressively increase and full capacity of 5 200 t/y expected to be reached by mid-2022.
Latest Developments
ASM has unveiled plans for a A$106-million capital raise to fund key workstreams for its Korean metals plant and front-end engineering and design (FEED) studies for its Dubbo critical minerals project, in New South Wales.
The shares issued under the placement will be settled on April 1. In addition to the share placement, ASM will also undertake a 1:14 pro rata, nonrenounceable entitlement offer, at A$4.80 a share, to raise an additional A$41-million before costs.
The entitlement offer will open on April 7 and will close on April 16, unless extended.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
ASM, tel +61 8 9200 1681 or email info@asm-au.com.
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