Astron advances Donald project, redomiciles to Australia

Astron Corporation Limited reported a pivotal FY2025, marked by substantial progress on its Donald Rare Earth and Mineral Sands Project in Victoria, Australia. The company secured final regulatory approval with the Victorian Government's Work Plan, positioning the project for a Final Investment Decision (FID) by mid-FY2026. This approval, obtained in June 2025, authorises site development, construction, and operations. Astron also established a joint venture with Energy Fuels Inc. in September 2024, securing $183 million in cash and US$17.5 million in Energy Fuels stock for a 49% interest in the project. The joint venture aims to produce 7,000-8,000 tonnes of REEC per year in Phase 1, with Energy Fuels committed to purchasing 100% of the REEC.

A major corporate development was the redomicile of the parent entity from Hong Kong to Australia, effective August 2025. This move aligns the company’s domicile with the primary location of the Donald Project. The redomicile was accompanied by a name change to Astron Limited and a two-for-one share split, resulting in an issued capital of approximately 418 million shares. Financially, Astron recorded a consolidated net profit before tax of $16,981,577, an increase of 171.1% from the previous year’s loss, driven by the joint venture and divestment of non-core assets like the Niafarang Project in Senegal.

The company’s Yingkou operations in China saw improved performance, focusing on high-grade rutile and finer-grain ore products, despite feedstock constraints. The divestment of the Niafarang Project allows Astron to concentrate on the Donald Project, while retaining a passive royalty interest and product offtake rights.