Australian Strategic Materials hits over 5-month high on rare-earths supply deal

Australian Strategic Materials

03/08/2023 02:13

** Shares of Australian Strategic Materials  ASM.AX  rise as
much as 12.4% to A$1.820, highest since Feb 24
    ** Stock marks third consecutive session of gain 
    ** Miner says signed five-year agreement to supply neodymium
iron boron (NdFeB) alloy to magnet maker USA Rare Earth LLC
    ** Adds co expects to start supplying NdFeB alloy to USA
Rare Earth in 2024
    ** Stock had risen 12.9% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))