OFS is on track for completion at the end of the March quarter.
The 250kg reduction furnace is to be jointly owned once finished.
The last run in 2020's fourth quarter will produce ferro-dysprosium and ferroniobium.
Production has been so successful ASM has agreed to acquire JV partner Ziron Tech.
The metal technology in the latest run used 35 kilowatts per kg of metal.
Final stage of process confirms 50% less energy is used compared to traditional methods.
The next run will produce 99.9% pure titanium metal, with results expected in August.