Ann: Dubbo Project Finance Update, page-80

The following is part of the article (After I have done Google translation). It is indeed a very recent interview (the publishing date is 9th Oct 2021):
DW said:
What is the timing of supplying rare earth minerals to Korean companies?

“The Dubbo project is divided into phases 1 and 2. The first step is to supply minerals such as rare earths to Korean companies outside of Australia. Currently, we are building facilities equipped with processes such as mining and classification in Australian mines, where minerals such as rare earths are stored. This project will take about two years. For the first phase of the Dubbo project, ASM is constructing an alloying plant in Ochang, Chungcheongbuk-do, that produces rare earth minerals and other minerals so that companies can actually use them. It is expected to be operational at the end of this year or early next year after completion. The annual production scale of minerals, such as rare earths, is expected to be about 5,000 tons next year at the Ochang plant. The second stage is to send rare earths mined from mines in Australia to the Ochang plant for production from 2024. The perfect start of the Dubbo project can be seen from this point. Korea will be able to receive a stable supply of minerals such as rare earths from ASM.”

What is the future production scale of the Ochang plant?

“In 2024, the production of rare earth minerals and other minerals at the Ochang Plant is expected to more than triple that of 2023. Of course, it may fluctuate depending on market conditions, but the demand for rare earths is steadily increasing. In 2024, ASM's sales will exceed 300 billion won, and its operating profit will reach 30-40% of its sales.”

It seems that governments around the world provide a lot of support to overseas rare earth suppliers to secure key minerals such as rare earths.

“Major countries around the world, such as the United States and Japan, are making efforts to build a stable supply chain by classifying rare earths as strategic materials for national security. The governments of Australia, the United States, and Canada have recently created a map to share information on deposits of key minerals such as rare earths. Australia is also in constant discussions with the Korean government to stabilize the rare earth supply chain. We are concentrating on creating a win-win business model by utilizing the strengths of each country. These business models are built by companies, and the government plays a supporting role. When ASM first carried out the Dubbo project in Korea, the Korean government introduced good cooperative companies and supported them to build the infrastructure. The Ochang factory was also able to enter with the cooperation of the Chungbuk Provincial Government.”

future plans.

“The Dubbo Project is a project that supplies minerals such as rare earths to Korea with Korea as a partner. In the long term, the company plans to expand its supply chain to third countries such as the United States and Europe. The goal is to supply minerals such as rare earths mined from mines in Australia to the world. ASM has eco-friendly process technology that uses less energy and emits less pollutants than conventional methods. As ESG (Environmental, Social, and Governance) management becomes increasingly important, ASM will also grow into a more environmentally friendly, social and transparent company.”