Australian Strategic Materials (ASX:ASM) successfully produce magnet metal alloy

Company News

by Rachael Jones

Australian Strategic Materials’ (ASX:ASM) Ziron Tech team in Korea has successfully produced 200kg of FeNd, a key rare earth alloy used to produce sintered permanent magnets (via powder metallurgy).

They have high magnetic strength and heat resistance and are essential for advanced and clean technologies including electric vehicles.

The FeNd alloy was produced using ASM’s low energy metallisation process and has significant environmental advantages over the industry standard process.

The 200kg of FeNd alloy will be used in the production of rare earth permanent magnets in partnership with the Korea Institute for Rare Metals (KIRAM), a division of KITECH (the Korea Institute of Industrial Technology).

Shares in Australian Strategic Materials’ (ASX:ASM) are trading 4.6 per cent higher at $3.41.