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Highlighths

  • Mining Licence for Goschen Project approved by Resources Victoria.

  • Project holds Major Project Status with a clear path to a Q4 2026 production start.

  • Secondary approvals, investment talks, and financing discussions advancing.

  • VHM shares rose 6.67% to 24 cents on the announcement.

VHM Limited (ASX:VHM) has achieved a major milestone with the approval of the Mining Licence for its flagship Goschen Rare Earth and Mineral Sands Project in Victoria, granted by Resources Victoria. This development marks a critical step towards construction and production for what is considered a globally significant critical minerals project.

Path Cleared for Development

With the Environmental Effects Statement (EES) already endorsed and the Mining Licence now secured, VHM has the necessary approvals to mine, explore, and construct key infrastructure within the licence area. The company is currently advancing the remaining secondary approvals needed for full-scale operations and closure planning.

VHM is now focused on finalising investment agreements and building strategic partnerships, as it moves toward a Final Investment Decision (FID).

Financing and Offtake Discussions Progressing

The Mining Licence approval also assist the company in project financing negotiations. Discussions with potential offtake and funding partners have gained momentum, with the company targeting near-term completion of key agreements.

To support this next phase, VHM has engaged an independent technical, environmental, and social due diligence review for the Goschen Project’s financing process.

Goschen Project Highlights

Recognised as a Tier-1 integrated rare earth and mineral sands project, Goschen offers a unique and strategically important mineral mix, including both light rare earths (NdPr) and heavy rare earths (DyTb).

Other key attributes include:

  • Production start targeted for Q4 2026 through a staged development strategy.

  • Dual commodity revenue streams from rare earths and heavy minerals such as zircon and titanium.

  • Shallow-pit truck-and-shovel mining with a conventional processing flowsheet.

  • 100% land ownership, with all project footprint land already acquired.

The Commonwealth Industry Minister recently granted a three-year extension to the project’s Major Project Status, further underscoring its national importance.

Market Reaction

Following the announcement, VHM shares jumped 6.67% during Thursday morning trading, reaching 24 cents per share.