Sydney, October 27th (Argus) - Australian rare earth producer ASM (Australian Strategic Materials) shipped a total of 40 tons of rare earth metals from July to September this year, achieving a significant increase compared to the same period last year.
The company's metal processing plant in South Korea is continuously enhancing its production capacity. ASM announced today that it has fully raised funds to increase the annual production capacity of rare earth metal alloys at the plant from 1,300 tons to 3,600 tons. This quarter, the company also launched a plan to further expand production to 5,600 tons.
Neodymium iron boron is in high demand
In the third quarter, ASM produced 16.7 tons of neodymium iron boron and shipped 13.9 tons to customers, a significant increase from 2.4 tons in the period from April to June. In the second quarter of this year, ASM signed agreements with American producer Noveon Magnetics and German manufacturer VAC to deliver 22.2 tons of neodymium iron boron products in 2025. Currently, the company is advancing the product certification process with customers in Asia, Europe, and the Americas.
Praseodymium and neodymium metal inventory supports shipments
ASM produced 1.7 tons of praseodymium and neodymium metal from July to September and achieved shipments of 22.2 tons using inventory. The company plans to increase the production of praseodymium and neodymium metal to 14 tons in the fourth quarter. Additionally, ASM has reached a 29-ton praseodymium and neodymium metal sales agreement with Canadian magnet producer Neo Performance Metals and intends to expand cooperation in the supply chain and technological innovation through a binding agreement.
Heavy rare earths achieve their first sales
In July 2025, ASM successfully produced its first batches of metallic dysprosium and terbium and sold 2 kilograms each to Neo. In the fourth quarter, it plans to produce and deliver 13 kilograms of heavy rare earth metals. The capacity enhancement of ASM's Korean plant comes at a time when the US and Australian governments are strengthening cooperation on key minerals. On October 20th, the two countries announced that they will each invest 1 billion US dollars in the development of key mineral projects within the next six months. The next day, the US Export-Import Bank agreed to jointly invest with Australian institutions to provide up to 700 million US dollars in joint financing to three Australian companies, including Arafura Rare Earths, Northern Minerals, and others.
