Victory Metals Signs Material Transfer Agreement with Curtin University for Pilot-Scale Heavy Rare Earth MREC Production

Aditi Sarkar

11 November 2026 12:32 PM AEDT

Victory Metals Signs Material Transfer Agreement with Curtin University for Pilot-Scale Heavy Rare Earth MREC Production

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Victory Metals Limited (ASX:VTM) has executed a Material Transfer Agreement with Curtin University, granting access to the Cathode Precursor Production Pilot Plant (C4P) — approximately A$18.4 million of advanced processing infrastructure — for the pilot-scale production of Mixed Rare Earth Carbonate (MREC) from the company's heavy rare earth concentrate.

Key Points

Victory Metals has executed a Material Transfer Agreement with Curtin University enabling access to the C4P facility, comprising approximately A$18.4 million of advanced processing infrastructure.
Heavy rare earth mineral concentrate produced at Victory's Burswood pilot plant in Perth will be transferred to the C4P facility for downstream conversion into MREC.
The Material Transfer Agreement provides for the transfer of concentrate and relevant process materials during 2026 and 2027.
On 9 November 2026, China's Ministry of Commerce and General Administration of Customs confirmed the suspension of certain additional rare earth export controls would be extended until 10 January 2027.
MREC samples produced under the program are intended to be returned to Victory for technical assessment and potential evaluation with international offtake and refining partners, subject to further testwork and negotiation of relevant commercial arrangements.

Material Transfer Agreement and C4P Facility Access

The agreement provides Victory Metals access to the Cathode Precursor Production Pilot Plant, developed through collaboration between Curtin University, CSIRO, and the Minerals Research Institute of Western Australia (MRIWA). The C4P facility was established to advance Australia's capabilities in higher-value critical minerals processing. According to the filing, the agreement establishes an integrated Western Australian processing pathway under which concentrate produced at Victory's operational Burswood pilot plant in Perth will undergo further downstream processing at the C4P facility, without Victory having to construct an equivalent standalone facility.

Processing Pathway and Product Qualification Timeline

The Material Transfer Agreement covers the transfer of heavy rare earth concentrate and relevant process materials during 2026 and 2027. The filing states that MREC samples produced under the program are intended to be returned to Victory for technical assessment and potential evaluation with international offtake and refining partners. The company disclosed these activities are subject to further testwork and the negotiation of relevant commercial arrangements. The initiative builds on Victory's existing relationship with Curtin University and its Western Australian School of Mines.

Chinese Rare Earth Export Controls and Market Context

The filing notes that on 9 November 2026, China's Ministry of Commerce and General Administration of Customs, through Announcement No. 58 of 2026, confirmed the suspension of certain additional export controls — including measures relating to medium and heavy rare earth products and technologies — would be extended until 10 January 2027. The filing states that existing export licensing requirements and continuing policy uncertainty highlight the strategic importance of developing diversified heavy rare earth supply chains outside China. Victory identified potential customers in the United States, Europe, Japan, India, South Korea, Vietnam, and other markets.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.