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Highlights
- US$10 million loan secured from Saudi-linked Sanabil Investments
- Funding to fast-track North Stanmore rare earths project in WA
- Strategic support aligned with Saudi Vision 2030 and global supply chains
Victory Metals (ASX:VTM) has announced a major strategic financing breakthrough with the confirmation of a US$10 million loan facility from Sanabil Investments, a sovereign investment arm linked to the Kingdom of Saudi Arabia. This funding marks a significant milestone in advancing Victory’s North Stanmore rare earths project located in Western Australia.
The loan, which is unsecured and comes with a two-year interest-free grace period followed by a 3.9% interest rate, is set to be utilised across exploration, capital costs, and broader development expenses for the North Stanmore project. This aligns with the company’s broader objective of rapidly moving the heavy rare earths asset towards full-scale development.
The financial commitment not only strengthens Victory's balance sheet but also represents a broader strategic alignment with Saudi Arabia’s ambitions in critical minerals. Sanabil, which is a subsidiary of the Public Investment Fund (PIF), is playing an integral role in supporting projects that contribute to Vision 2030 — the Kingdom’s blueprint to diversify its economy beyond oil by investing in sectors such as mining, manufacturing, and clean energy.
A key pillar of this partnership is the downstream development of critical minerals processing. Victory Metals’ North Stanmore project, known for its clay-hosted, heavy rare earths composition, positions the company as a viable global supplier of materials essential for advanced technologies including semiconductors, defence equipment, and electric mobility.
In a further boost of confidence, Sanabil has also expressed interest in providing up to $330 million in future funding for the construction of a dedicated processing facility, signaling long-term collaboration beyond the current loan arrangement. This potential backing enhances the project's commercial viability and geopolitical significance.
Victory’s strategy resonates well within the ASX300 ecosystem, which features companies making substantial contributions to Australia's economy and global competitiveness. ASX300 constituents like Victory Metals continue to draw international attention for their high-impact projects and alignment with global trends.
With access to deep funding channels and strong alignment with one of the world’s most ambitious economic transformation agendas, Victory Metals is poised to play a pivotal role in the reshaping of the global rare earths supply chain. The strategic support from Sanabil not only validates the scale and relevance of the North Stanmore asset but also underscores the increasing global interest in Australia's critical mineral potential.
