Australian Strategic Materials (ASM) Noosa Mining Investor Conference summary

Industry context and market drivers

• Geopolitical tensions and Chinese export restrictions on rare earths have increased urgency for alternative supply chains.

• Heavy rare earths face particularly tight restrictions, prompting action from governments and consumers.

• Supply chain consolidation in China has been a known risk, now driving Western investment and policy response.

Strategic positioning and operations

• Only ASX-listed company with a mine-to-alloy strategy and operational metalization capability outside China.

• Korean metals facility operational since 2022, net zero carbon from inception, exporting to US, Europe, and local markets.

• Facility designed for phased expansion, with current capacity at 1,300 tpa and plans to reach 3,600 tpa, fully funded for phase II.

Customer and market developments

• Supplying major magnet producers in the US and Europe, including Noveon, Vacuumschmelze, USA Rare Earth, and Neo Performance.

• First commercial heavy rare earth metals delivered to Neo Performance in Estonia.

• Orders and production ramping up as Western magnet producers increase output.