Australian Strategic Materials Signs exclusive deal with Hyundai Engineering
- Australian Strategic Materials (ASM) signs an exclusive heads of agreement with South Korean engineering company Hyundai Engineering Corporation (HEC)
- The companies will negotiate a front-end engineering and design (FEED) study and an engineering procurement and construction (EPC) contract for the Dubbo project
- ASM’s Dubbo project is located in NSW and is being developed as a global supplier of rare earth materials
- The company is targeting the FEED contract to be awarded before the end of the current quarter and for the delivery of the FEED in the December 2022 quarter
- Company close up 9.58 per cent to trade at $7.89
