Australian Strategic Metals (ASM) managing director Rowena Smith is calling on the sector to work in collaboration to create a robust critical minerals and rare earths supply chain.
Speaking at AusIMM’s recent Critical Minerals Conference in Brisbane, Smith highlighted Australia’s position as a critical minerals and rare earths powerhouse, saying this positions the country to play an essential role in development.
“Since the global supply chain disruptions caused by the COVID-19 pandemic, there has been growing recognition that it is not sustainable for rare earths and other critical mineral supply chains to be dominated by a single jurisdiction,” she said.
“Combine this disruption with growing global demand for these materials to support renewable energies, electric vehicle manufacturing, defence, aerospace and electronics, and there is an urgent need to build a more diverse industry, capable of meeting this forecast growth.”
Smith pointed to ASM’s metallisation facility in Ochang, South Korea, as an example of building commercial partnerships across countries.
The Korean Metals Plant (KMP) was opened in 2022 to produce rare earth metals and alloys for customers around the world.
ASM also owns a rare earth and critical minerals project in Dubbo, which holds all major approvals and permits for construction and mining.
The Dubbo project has received conditional letters of interest from export credit agencies in the US and Canada, and the Export-Import Bank of the US (EXIM) has indicated support of up to $923 million. Export Development Canada (EDC) has also indicated support of up to $400 million.
“We were delighted to announce the (letters of interest) from EXIM and EDC following extensive positive engagement with both countries,” Smith said.
“The debt funding is linked to the potential US and Canadian equipment, goods and services to be supplied in the construction phase of the Dubbo project and the key strategic role the Dubbo project can play in creating an alternative critical minerals supply chain.”
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