Australian Strategic Materials Inks Long-Term Sales Deal with USA Rare Earth

Australian Strategic Materials Limited (ASM) has achieved a significant milestone by entering a five-year binding sales and tolling framework agreement through its subsidiary, ASM Korea Co., Ltd, with USA Rare Earth, LLC (USARE).
ASM's Korean Metals Plant (KMP) will supply NdFeB alloy to aid USARE's high-performance rare earth magnet production.

The collaboration aligns with the projected surge in global demand for NdFeB magnets, primarily driven by electric vehicle and wind power sectors. This accord secures the bulk of USARE's NdFeB alloy needs for magnet manufacturing until its Round Top reserve in Texas becomes operational. The agreement underscores ASM and USARE's shared commitment to bolstering rare earths and critical minerals supply chains to support future sectoral growth.

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