I have been doing a bit of digging re the ASM collaboration...

I have been doing a bit of digging re the ASM collaboration with VTRE and BSX to try and join the dots. Thx to @subi on another thread for the link to the BSX video. BSX are an interesting Ni play in their own right!

• Like ASM, BSX have had a long relationship with Korea (and maybe facing a similar difficulty in getting Korea to commit funds)
• They also share the end to end value chain and ESG thematic and aiming for Nett Zero as their market is also western EV car manufacturers
• BSX are a prospective Ni miner/processor and aiming to produce NCM precursors for EV batteries whilst ASM targets the permanent magnets for EV motors
• BSX are presently finalising a DFS and partner announcement for their Ta Khoa Nickel mine/refinery in north Vietnam
• The crossover seems to be that refinery, their tech expertise (and that of ASM) and the good relationship/contacts that BSX have developed with the Vietnamese government
• The Ta Khoa refinery is to be a regional hub for processing speciality minerals, primarily GSX nickel but potentially for REE beneficiation also
• ASM/VTRE/BSX have their eyes on a mining licence for the Dong Pao REE mine and maybe other REE prospects in the Lai Chau Province near the BSX refinery
• The Dong Pao mine is very REE rich but is having issues being developed and needs specialty expertise
• The idea is that REE from these resources can be partially processed (beneficiated) at the BSX Ta Khoa refinery then sent onto the VTRE refinery for further processing into oxides and then to the KMP to be turned into REE metals
• The upside for the Vietnamese government is some help getting the rich Dong Pao resource into production
• The upside for BSX is that it improves the business case for their Ta Khao refinery
• The upside for VTRE is a new source of REE for their refinery and oxide on-sell to ASM (and others)
• The upside for ASM is a REE oxide feedstock for KMP to tide them over until Dubbo is sorted