Australian Strategic Materials (ASX:ASM) said it is advancing a vertically integrated mine-to-metals strategy designed to establish a sustainable and independent rare earth and critical minerals supply chain via its Dubbo project in New South Wales and its Korean metals plant, according to a Friday Australian bourse filing.

The Dubbo project's resource of neodymium, praseodymium, dysprosium, terbium, zirconium, niobium, and hafnium could be in production by 2028, dependent upon funding, the filing said. The company's Korean metals plant expects to scale to commercial production of dysprosium and terbium metals this year.

Australian Strategic Materials' shares rose 4% in recent trading on Friday.