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Victory Metals Limited (ASX: VTM) has secured a place for its 100% owned North Stanmore Heavy Rare Earth Project in Western Australia in the Australian Government’s Critical Minerals Prospectus, an initiative administered by the Australian Trade and Investment Commission (Austrade).
The Prospectus showcases Australian critical minerals projects to international investors, financiers, potential offtake partners and strategic industry participants, in support of the country’s objective of building secure, diversified supply chains. For Victory, inclusion adds a platform to promote its heavy rare earth resources, its advanced development status and its potential role in supplying critical materials to markets outside China. North Stanmore hosts the strategically important heavy rare earths dysprosium, terbium and yttrium, which are used in defence, aerospace, advanced manufacturing and high performance technologies. The project is positioned to serve growing demand for independently sourced heavy rare earth products from the United States, Japan, Europe, India, South Korea and Vietnam. The listing also raises its visibility among investors, financiers and strategic partners.
Victory Metals Chief Executive Officer and Executive Director Brendan Clark said the inclusion was a significant opportunity for the company. Clark said, “The inclusion of North Stanmore in the Australian Government’s Critical Minerals Prospectus is an important opportunity to showcase what we believe is one of Australia’s most compelling emerging heavy rare earth development projects. The strategic importance of heavy rare earths continues to increase as the United States and its allies seek to establish independent, secure and reliable supply chains for materials essential to defence, aerospace and advanced technologies. North Stanmore offers something particularly attractive in this environment. We have a substantial heavy rare earth resource in Western Australia, an advanced development project, established regional infrastructure and a straightforward mining and processing pathway.”
In conclusion, he said, “Importantly, our project is not dependent on the complex high temperature mineral cracking processes typically required by many conventional rare earth deposits. The natural weathering of a significant portion of our orebody has created favourable mineralogy that supports the production of a heavy rare earth enriched concentrate using conventional beneficiation methods. With our PFS completed, maiden Ore Reserve established, Mining Lease granted and pilot plant operational, Victory has already achieved a number of significant milestones on the pathway towards commercial production. Australia has an important opportunity to become a reliable long-term supplier of heavy rare earths to the world. We believe North Stanmore has the scale, mineralogy and development characteristics to play a meaningful role in that future. This initiative provides another valuable avenue for Victory to engage with international investors, strategic partners and potential customers as we progress North Stanmore towards development and we thank Austrade for the inclusion.”
