Australian Strategic Materials (ASM) is securing the technology it needs to produce cleaner metals from the Dubbo Project at Toongi by buying 95 per cent of its South Korean joint venture partner, Ziron Tech.
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ASM is also looking to establish the first commercial-scale metal plant in Korea.
Ziron Tech owns the patented low-emission and high-purity metal refining technology already applied to all major metals found at Toongi.
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The technology is reported to be a more environmentally-friendly, sustainable and cost-effective alternative to conventional and energy-intensive metallisation processes.
ASM is acquiring the pilot plant established in 2020 to "confirm the technology".
"The technology has been successfully applied during pilot plant test work to all major metals found within ASM's Dubbo Project including zirconium, hafnium, and rare earths for permanent magnet alloys," an ASM spokesman said.
"It also provides an opportunity for ASM to expand its business with the production of titanium metal and associated alloys."
The spokesman said ASM was seeking to launch a feasibility study for a larger-scale commercial plant and would appoint Ziron Tech's founder, Professor Jonghyeon Lee, as chief technical adviser to lead the continued development of clean-metal processing.
This agreement marks the start of the next phase of this positive partnership with Ziron Tech as it becomes part of ASM (Australian Strategic Materials).
- ASM managing director David Woodall
ASM managing director David Woodall said its strong relationship with Ziron Tech since 2016 had resulted in the successful production of metals using the clean technology.
"This agreement marks the start of the next phase of this positive partnership with Ziron Tech as it becomes part of ASM," he said.
"With Professor Lee and his team on board, we are looking forward to establishing the first commercial-scale metal plant in Korea using the technology, which will help meet the growing demand for ASM's range of high-purity and value-added critical metals used in advanced technologies, including electric vehicles and clean energy."
In late July ASM began trading on the Australian Securities Exchange after a demerger with Alkane Resources.
The Dubbo Project has all approvals in place and is shovel-ready subject to financing.
ASM reports that the Toongi deposit is a "massive fine-grained trachyte outcrop of Jurassic age" with elevated levels of zirconium, rare earths, niobium and hafnium.
