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Highlights
- Surefire Resources (SRN) signs an offtake agreement with HMS Bergbau AG for Victory Bore minerals.
- The deal strengthens ties with Germany and aligns with the country’s €1 billion Raw Materials Fund.
- HMS Bergbau’s global presence supports Surefire’s funding discussions with Saudi and European investors.
Surefire Resources (ASX:SRN) has taken a significant step forward in the commercialisation of its Victory Bore Critical Minerals Project through a newly signed Heads of Agreement (HOA) with German-based HMS Bergbau AG. The agreement secures the offtake of all critical mineral products from the proposed mine and beneficiation plant, reinforcing the project's path toward development and long-term supply commitments.
HMS Bergbau AG, a global commodity specialist, operates across Europe, Africa, Asia, and the Middle East, focusing on the marketing and logistics of raw materials. With established industry relationships and a strong presence in resource financing, the company’s collaboration with Surefire Resources strengthens the outlook for Victory Bore.
This agreement builds on an Expression of Interest received from HMS Bergbau in 2024 and aligns with Surefire’s ongoing discussions with potential funding partners in Saudi Arabia and Europe. The HOA lays the foundation for finalising critical details, including product quantities, delivery schedules, and pricing mechanisms, marking a major milestone in the project’s progression.
Surefire Resources Managing Director Paul Burton highlighted the significance of this agreement, stating that it represents a key endorsement of Victory Bore’s potential as a long-term supplier of critical minerals. The project is poised to meet the rising demand for strategic materials in the energy and technology sectors.
Strengthening Ties with Germany
Surefire Resources has been expanding its footprint in Germany following the establishment of the German-Australian Critical Minerals Alliance in April 2023. The country’s commitment to securing critical mineral supply chains has been further reinforced by the launch of its €1 billion (A$1.61 billion) Raw Materials Fund in September 2024. Managed by KfW, a state-owned development bank, this fund aims to reduce reliance on imports from high-risk jurisdictions while supporting projects that integrate German or EU participation.
HMS Bergbau, headquartered in Berlin, has been a key player in international commodity trade since 1955. With subsidiaries spanning Switzerland, Indonesia, Singapore, Africa, the USA, and Dubai, the company is expanding into commodity production and logistics. HMS Bergbau’s engagement with Surefire aligns with Germany’s strategy to strengthen its supply of critical minerals.
CEO Denis Schwindt of HMS Bergbau underscored the importance of this partnership, stating that the company is eager to collaborate with Surefire Resources in securing strategic minerals for the EU and German industries.
As Surefire Resources progresses toward final agreements, this strategic partnership with HMS Bergbau marks a crucial step in unlocking the full potential of the Victory Bore project, while reinforcing its role in the global supply chain for critical minerals.
