ASX-listed Australian Strategic Materials (ASM) has produced 9 kg of key permanent magnet alloy neodymium praeseodymiium (NdPr) at its commercial plant in South Korea.
The company told shareholders on Tuesday that following this success, the company, through Zircon Tech, was now progressing an agreement with the Korea Institute of Industrial Technology (KITECH) to produce a sample of 600 kg of permanent magnets for Korean industry over the coming months.