PERTH (Miningweekly.com) – ASX-listed Australian Strategic Materials (ASM) has inked a feedstock supply agreement with Vietnam Rare Earths Company (VTRE) for the purchase of rare earth oxides from Vietnam to be used as feedstock at ASM’s Korean Metals Plant (KMP)
Under the terms of the agreement, VTRE will supply 100 t of product over the remainder of 2023, with the two companies also committing to good faith negotiations for a longer-term supply agreement.
“This agreement will ensure we have the feedstock needed to continue the ramp-up of production at KMP, as anticipated sales contracts progress this year,” said ASM MD and CEO Rowena Smith.
“In sourcing the required oxides from Vietnam and building our relationship with VTRE, we are also ensuring greater oversight of our supply chain, which supports our sustainability and governance commitments to both our customers and our shareholders.”
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 neodymium iron boron (NdFeB) and titanium alloy.