Highlights

  • North Stanmore is selected for the Australian Critical Minerals Prospectus, giving the project a government-endorsed showcase for international investors and potential offtake partners.
  • The project hosts a 278.8Mt resource with 70.67Mt in the Measured category, grading 483 ppm TREO at a 300 ppm cut-off; heavy rare earth oxides account for 38% of the total.
  • Victory has completed a prefeasibility study, established a maiden ore reserve, been granted a mining lease and is operating a pilot plant at North Stanmore in the Cue region.
  • No funding commitment or offtake agreement arises from Austrade selection; the listing is a marketing and visibility channel, not a financing event.

Victory Metals' North Stanmore heavy rare earths project in Western Australia has been selected for the Australian Critical Minerals Prospectus, a promotional publication produced by Austrade, the federal government's trade and investment agency. The company (ASX:VTM) announced the selection on 27 October 2026.

What the Prospectus Does

The prospectus is designed to showcase Australian critical minerals projects to international investors, financiers, potential offtake partners and strategic industry participants. Its purpose is to attract investment, support commercial partnerships and build domestic extraction and processing capability. Inclusion is a marketing and visibility channel rather than a funding commitment — no financing, offtake agreement or government investment flows from the selection. Mining.com.au reported that the prospectus lists North Stanmore at prefeasibility stage alongside other Western Australian rare earths projects and existing processing operations.

The Project

North Stanmore is wholly owned by Victory and sits in the Cue region of Western Australia's Murchison. It hosts the heavy rare earths dysprosium, terbium and yttrium — elements used in defence, aerospace, advanced manufacturing and other high-performance technologies. The August 2026 mineral resource estimate totals 278.8 million tonnes, of which 70.67 million tonnes sit in the Measured category. The overall ratio of heavy rare earth oxides to total rare earth oxides is 38%. Mining.com.au reported the estimate at a 300 ppm TREO cut-off grades 483 ppm and contains 84.09 million tonnes indicated and 124.04 million tonnes inferred. A higher-grade domain of 53.34 million tonnes grades 1,024 ppm, with heavy rare earth oxides making up 32.4% of the total.

Processing Approach

The feature Victory emphasises most is metallurgy. According to the company, natural weathering of a significant part of the orebody has produced mineralogy allowing a heavy rare earth-enriched concentrate to be made through conventional beneficiation. Chief executive Brendan Clark said the project "is not dependent on the complex high temperature mineral cracking processes" used for many rare earth deposits. If that holds at commercial scale, it could simplify the flowsheet and reduce energy demand — though that outcome still depends on scale-up, product specifications and downstream separation economics.

Uncertainties and Next Steps

North Stanmore has not reached a final investment decision, and the announcement does not set out a development timetable, a capital cost or a financing plan. Rare earth markets remain heavily influenced by Chinese supply and export policy, which affects pricing for new entrants. Victory says the prospectus gives it another avenue to engage with investors, strategic partners and potential customers. No offtake or funding arrangements linked to the prospectus have been announced.