Through the acquisition, ASM now owns Ziron Tech’s patented low-emission, high-purity metal refining technology and its pilot plant in Korea
Ziron Tech has produced metal from all products of ASM’s polymetallic Dubbo project in New South Wales. The project has a large in-ground resource of zirconium, rare earth elements (including yttrium), niobium, and hafnium.
Among the products manufactured by the Korean company are high-purity praseodymium metal (99.3%), dysprosium metal, neodymium and high-purity titanium metal (99.83%), which was made using 30% of the energy employed in standard titanium industry processes.
To go ahead with the deal, ASM had to acquire 100% of the current joint venture company RMR Tech Corporation and RMR Tech completed the acquisition of 95% of the shares in Ziron Tech.
As consideration for the transaction, ASM will now have to issue 1,306,417 ASM shares for consideration of $2 million to current Ziron Tech shareholders and grant existing Ziron Tech shareholders a Net Smelter Return of 5% from any global commercial metallization facility established using the technology, subject to a 50% step-down of the royalty after payments of $20 million have been made.
