The production of 99.3% pure praseodymium metal marks a key stage of the patented metallisation process for permanent magnet metals.
ASM is progressing to the production of dysprosium and to alloying the key permanent magnet metal neodymium/praseodymium (NdPr) with this work to start this month.
Shares were up almost 13% to $1.23 today.
According to the company, the patented metallisation process does not have negative environmental impacts that exist in the current supply chain of these critical materials.
ASM has an exclusive worldwide licence to commercialise this clean and environmentally responsible metal-refining technology.
Through its patented technology, the company aims to engage countries like Korea which are moving away from less sustainable traditional production methods.
Mine to metals producer
ASM managing director David Woodall said: “It has been a real privilege to be in Korea at this time and see the commercial pilot plant and team in action.
“These metals are essential for advanced technologies, including electric vehicles and clean energy.
“The production of these key permanent magnet metals brings ASM a step closer to being an integrated mine to metals producer."
"Strong base to progress opportunities"
Woodall said: “We embrace and look to engage with countries, like Korea, that have a vision to move away from the less sustainable traditional production methods.”
“This significant result provides a strong base for ASM to progress opportunities with various government and business groups to supply critical materials to Korean industry efficiently and with responsibility to the environment.”
“The same could apply to Australia, with ASM the only potential integrated supplier of these critical metals, that could suRead More – Source