ASM - Australian Strategic Materials signs US$600 million LoI

(NewsDirect)

Rowena Smith, CEO and managing director of Australian StrategicMaterials Ltd (ASX:ASM), joins Jonathan Jackson in the Proactivestudio to discuss the company’ s Dubbo Project, in Central West NewSouth Wales. This project aims to extract and process criticalminerals and rare earth elements, crucial for various high-techapplications. Last week, the project received a significant boost witha Letter of Intent (LoI) for a US$600 million debt funding packagefrom the Export-Import Bank of the United States, adding to a previousA$200 million Letter of Support from Export Finance Australia (EFA).This financial backing underscores the strategic importance ofcritical minerals and the global interest in securing supplies forfuture technological and industrial use. The AustralianGovernment's focus on critical minerals reflects a broaderinternational trend towards securing supply chains for essentialresources, particularly those pivotal for technological advancementsand sustainable development. Furthermore, ASM has contracted BechtelMining and Metals, Inc for Front-End Engineering Design (FEED)services. Bechtel will develop the project's engineering design,integrating its extensive experience in constructing large-scaleindustrial projects, which will enhance the project's feasibilityand operational planning. This collaboration and the secured fundingare pivotal steps towards completing a comprehensive feasibility studyfor the Dubbo Project, setting the stage for its development andoperational phases.

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Proactive Investors

JonathanJackson

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jonathan@proactiveinvestors.com

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