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Highlights
Victory Metals (ASX:VTM) advances North Stanmore project with new gallium production
Export-Import Bank of the US extends letter of interest for project financing
Strategic rare earths like dysprosium and terbium included in updated resource
Victory Metals (ASX:VTM), part of the materials sector on the asx 200 index, is steering its long-term development strategy toward the rare earths space, reinforcing the critical role of its North Stanmore project in Western Australia. Although the company has roots in the gold segment, the latest developments underline a sharp shift in focus toward heavy rare earths and other critical minerals such as scandium, hafnium, and gallium.
North Stanmore yields final MREC product with gallium inclusion
The company has now confirmed the production of gallium within its final mixed rare earth carbonate (MREC) product. This production milestone was achieved as part of an ongoing test program conducted by Core (Brisbane), which primarily focused on optimizing the recovery of heavy rare earth elements including dysprosium and terbium. While gallium recovery was not an intended outcome, its presence in the MREC output adds a significant dimension to the project’s scope.
Victory Metals’ updated mineral resource estimate for North Stanmore now includes gallium oxide, in addition to a notable concentration of total rare earth oxide. The mineralisation across the site is reported to remain open in all directions, providing room for further geological analysis and development activities.
Strategic importance amid global rare earths control
Speaking at the RIU Sydney Resources Round-Up, CEO Brendan Clark emphasized the rising strategic value of rare earths. According to Clark, modern industries — from electric vehicles to renewable energy and defense systems — are deeply reliant on these complex metals. He highlighted that while consumer tech manufacturing has grown rapidly in recent years, control over rare earth supply chains has largely been consolidated by China.
Recent announcements from China’s Ministry of Commerce and General Administration of Customs introduced export licensing requirements on heavy rare earth elements such as dysprosium, terbium, and yttrium. These policy shifts have intensified the focus on alternative and secure rare earth sources outside of China, positioning companies like Victory Metals to gain relevance in the supply chain conversation.
Support from international financing institutions
In a notable development, the Export-Import Bank of the United States issued a letter of interest offering up to a significant project financing commitment for the advancement of the North Stanmore initiative. This expression of support highlights the project's perceived strategic value in the context of global supply security and critical minerals sourcing.
With North Stanmore containing elements listed under China’s export controls, Victory Metals stands among a small group of Australian developers capable of processing these metals with demonstrated economic viability. The company’s goal remains focused on developing a project with the right composition of heavy rare earths rather than sheer volume, aligning with broader shifts in demand and policy across international markets.
