The Australian Strategic Materials Ltd (ASX: ASM) share price has rocketed another 9.15% higher, trading at $7.75 the time of writing.
Shares in the integrated critical metals producer's have spent most of this month in the green, surging more than 63% in June.
The company has not announced any price sensitive news this month, so let's take a look at what else might be driving the Australian Strategic Materials share price run to record all-time highs.
What's the latest?
Sustainable production of critical materials
Australian Strategic Materials has a "mine to manufacturer" business model, leveraging its rare earths and oxides resource at the Dubbo project to supply its strategic plants which refine the raw material into metals, alloys and powders.
According to its investor presentation on 11 May, the Dubbo project has received all required environmental approvals and ready for construction.
Additionally, the company said that the Dubbo project was targeting zero carbon emissions through large scale renewables.
In terms of its metallisation and refining plants, the company previously announced its first proposed Korean Metals Plant to produce high purity metals, alloys and powders.
Australian Strategic Materials has described this as:
A springboard for proposed global expansion in strategic locations, identifying partnership opportunities to push further downstream into magnets and other applications.
Right place at the right time
The Australian Strategic Materials share price isn't the only ASX-listed producer of 'critical metals' running into record territory.
ASX lithium shares including Pilbara Minerals Ltd (ASX: PLS), Galaxy Resources Ltd (ASX: GXY) and Orocobre Limited (ASX: ORE) have all surged to multi-year highs this year. The jump in lithium miner valuations has been underpinned by higher lithium prices and strong demand across key markets.
A similar narrative is taking place for Lynas Rare Earths Ltd (ASX: LYC), the second largest producer of rare earths (ex-China).
The Lynas share price has lifted 33% year-to-date to an 8-year high of $5.60.
Globally, exchange-traded funds (ETFs) such as the Global X Lithium & Battery ETF and Invesco Solar ETF have lifted ~80% and ~147% respectively since February 2020.
It appears the Australian Strategic Materials share price is reflecting the overall bullish performance of renewable related industries.
