June 2025 Metallurgy Blog
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June 18, 2025
Australia Sees an Opportunity in Rare Metals Industry as China Tightens Metals Export Controls
Australia Sees an Opportunity in Rare Metals Industry as China Tightens Metals Export Controls
Credit: MIT
Australian Strategic Materials (ASM) has emerged as a notable supplier of rare earth metals and alloys, particularly following China’s recent decision to expand its export controls on key rare earth elements. With its metallization plant in Seoul, South Korea, ASM is currently the only ASX-listed company with commercial production capability for these critical materials outside of China.
Since opening in May 2022, ASM’s Korean Metals Plant (KMP) has successfully commissioned production lines for neodymium praseodymium (NdPr) metal and neodymium iron boron (NdFeB) strip alloys. These materials are essential for advanced magnets used in various industries, including technology and clean energy. The KMP facility is one of the few non-Chinese plants capable of producing these alloys, positioning ASM to play a role in meeting growing international demand.
Recent developments include binding purchase orders from customers in the U.S. and Germany.
The U.S. agreement involves 15 tonnes of NdFeB alloys for Noveon Magnetics, following a previous 100-tonne order in 2023. The German order, with Vacuumschmelze, covers 7.2 tonnes of alloy to be delivered through 2025. Additionally, ASM completed a 19-tonne NdPr shipment to Magnequench, a Neo Performance Materials subsidiary, with ongoing discussions for further sales.
ASM Managing Director and CEO Rowena Smith highlighted that the company’s progress is supported by technical development and growing customer engagement, driven in part by global interest in diversifying rare earth supply chains. While China remains the dominant global supplier, ASM’s operations represent part of the broader effort to build alternative supply options. Learn more about this topic here.
Since opening in May 2022, ASM’s Korean Metals Plant (KMP) has successfully commissioned production lines for neodymium praseodymium (NdPr) metal and neodymium iron boron (NdFeB) strip alloys. These materials are essential for advanced magnets used in various industries, including technology and clean energy. The KMP facility is one of the few non-Chinese plants capable of producing these alloys, positioning ASM to play a role in meeting growing international demand.
Recent developments include binding purchase orders from customers in the U.S. and Germany.
The U.S. agreement involves 15 tonnes of NdFeB alloys for Noveon Magnetics, following a previous 100-tonne order in 2023. The German order, with Vacuumschmelze, covers 7.2 tonnes of alloy to be delivered through 2025. Additionally, ASM completed a 19-tonne NdPr shipment to Magnequench, a Neo Performance Materials subsidiary, with ongoing discussions for further sales.
ASM Managing Director and CEO Rowena Smith highlighted that the company’s progress is supported by technical development and growing customer engagement, driven in part by global interest in diversifying rare earth supply chains. While China remains the dominant global supplier, ASM’s operations represent part of the broader effort to build alternative supply options. Learn more about this topic here.
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