ASM takes major step toward domestic rare earth supply with completed monazite feasibility study

Atlantic Strategic Minerals (“ASM”), a U.S. critical minerals producer, has announced the completion of a feasibility study for its proposed monazite production project, confirming a technically viable and rapid pathway to develop a domestic U.S. rare earths processing facility from mineral sands.

Highlights 

• Demonstration facility expected to initially produce up to 1,000 tpa of monazite concentrate from existing byproduct streams

• Feasibility study shows development pathway to have the facility operational within the next 12 months

• Expansion opportunities could increase production capacity to approximately 5,000 tpa through targeted plant upgrades and third-party feedstock processing

• Project strengthens U.S. critical minerals supply chains by providing a domestic source of rare earth elements essential for advanced manufacturing, clean energy technologies and national security applications

The feasibility study confirms robust underlying fundamentals for ASM's proposed monazite project, including competitive operating costs, established processing pathways and access to prospective markets. The results underscore the project’s potential as a reliable domestic source of rare earth elements.

ASM’s demonstration processing facility plans to initially produce up to 1,000 tpa of monazite concentrate from internal byproduct streams, creating an immediate domestic source of rare earth-bearing material. Through targeted plant expansion and third-party feedstock processing, capacity could scale to approximately 5,000 tpa, positioning the facility as a meaningful contributor to U.S. rare earth supply chains.

ASM is headquartered in Virginia, 150 miles from Washington, DC, and already mines and processes high-quality ilmenite and zircon at North America's largest minerals separation plant. The monazite project builds on this established operational base, offering a relatively rapid pathway to market with the demonstration plant capable of being developed and commissioned within approximately 12 months.

The company will now engage with relevant stakeholders, including government agencies, industry partners and local communities, to identify strategic partnerships and evaluate development pathways that maximize the project's long-term supply chain benefits. 

John Elder, CEO of ASM commented: 

"This feasibility study marks a significant milestone and underscores the project's strategic importance. We have confirmed it can be developed on a sound technical basis with attractive long-term fundamentals. The demonstration plant can be commissioned within approximately 12 months, giving us a near-term opportunity to establish a domestic monazite supply with significant capacity to scale through the right partnerships."

ASM Monazite processing FS study findings 20260630 vF.pdf

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