ASM reaches commercial production at Virginia critical mineral processing operations

[Redator]

Atlantic Strategic Minerals (ASM), an emerging critical minerals producer majority owned by Appian Capital Advisory, announced Thursday that its mining and mineral processing operations in Virginia have started commercial operations.

ASM’s Virginia project comprises high-grade mining assets and processing facilities, including a concentrator plant and the largest mineral separation plant in North America. Past and current investments into the project and its related facilities are estimated at more than $200 million, including initial construction and refurbishment.

With the commercial production milestone, the Virginia operations become the 12th mining project that Appian has brought into production since 2016.

ASM said its opening of its Virginia mining and processing facilities marks a significant milestone for US economic security with the production of critical minerals ilmenite, which is a feedstock for titanium and pigment industries, and zircon, essential resources for industries ranging from consumer goods to advanced manufacturing and defense.

Titanium and zirconium have been designated by the US government as critical minerals with domestic industries currently heavily relying on international imports to meet demand.

ASM said the operation offers capacity to process domestic and imported critical minerals – building more secure US supply chains.

The company added that it has already delivered its first shipments of ilmenite and zircon, as part of long-term offtake agreements, to US industrial customers.

In the next phase of development at its Virginia operations, ASM plans to produce monazite, a key mineral feedstock used in the production of rare earth oxides. Studies indicate that ASM’s monazite has significant concentrations of praseodymium (Pr) and neodymium (Nd), key materials for magnets used in electric vehicles (EVs), wind turbines and defense applications.

With China currently processing approximately 90% of rare earths, the company said the project’s monazite production has the potential to significantly diversify and strengthen the US critical supply chains.

“We are proud to officially commence production in Virginia, a project that not only strengthens the domestic supply of critical minerals but also plays a vital role in bolstering US economic and national security,” ASM CEO Chris Wyatt said in a news release.

“It is a case study of how to responsibly and successfully bring a strategically important project into production, while also ensuring lasting benefits to local communities.”