How VHM’s Goschen Licence and Deals Could Reshape Australia’s Rare Earths Market
VHM Limited has secured a crucial mining licence for its Goschen Rare Earths and Mineral Sands Project, alongside key domestic and international partnerships and a successful $8.6 million capital raise.
- Mining licence approved for Goschen Project in Victoria
- Memorandum of Understanding signed with Currumbin Minerals for domestic supply
- Letter of Interest secured with Mitsui & Co. for heavy mineral concentrate offtake
- Capital raise of $8.6 million completed to fund project advancement
- Work plan submitted and community engagement underway
Mining Licence Milestone
VHM Limited has reached a significant milestone with the approval of its mining licence for the Goschen Rare Earths and Mineral Sands Project in northwest Victoria. This licence grants the company the legal right to mine, explore, and develop mining infrastructure on the site, marking a transition from regulatory approvals to construction and production readiness. The licence approval follows the endorsement of the Environmental Effects Statement in late 2024, underscoring the project’s compliance with environmental and regulatory standards.
Strategic Partnerships Strengthen Supply Chain
In a move to bolster its domestic supply chain, VHM signed a Memorandum of Understanding with Queensland-based Currumbin Minerals. This partnership aims to facilitate the supply and processing of high-grade zircon-titania heavy mineral concentrate from the Goschen Project, supporting Australian industry collaboration and enhancing supply chain resilience.
Further expanding its reach, VHM secured a Letter of Interest with Japanese trading giant Mitsui & Co. for the potential offtake of 40% of the heavy mineral concentrate produced. Mitsui’s interest includes the possibility of providing trade finance facilities, reflecting growing international confidence in the project’s prospects and VHM’s strategic positioning in critical minerals markets.
Capital Raise Fuels Project Progress
To underpin ongoing development activities, VHM successfully raised $8.6 million through a combination of a placement and a share purchase plan. The funds are earmarked for early engineering work, de-risking activities, and general working capital as the company advances toward a Final Investment Decision expected in the third quarter of 2025. At quarter end, VHM reported a cash balance of $8.3 million, providing a solid financial footing for the next phase of project execution.
Regulatory and Community Engagement
VHM submitted its detailed mining work plan to the Earth Resources Regulator, a critical step in securing the remaining secondary approvals necessary to commence mining operations. This plan includes comprehensive rehabilitation, risk management, and community engagement strategies, demonstrating VHM’s commitment to sustainable and responsible mining practices.
Community consultation sessions held across several Victorian towns have been well received, fostering local support and ensuring that stakeholders remain informed and involved. The company is also preparing to relaunch its Community Reference Group to maintain ongoing dialogue with key regional partners.
Looking Ahead
With regulatory approvals advancing, strategic partnerships forming, and capital secured, VHM is poised to move closer to unlocking the value of its Goschen Project. The coming months will be critical as the company seeks to finalise outstanding permits and confirm offtake agreements, setting the stage for construction and eventual production.
Bottom Line?
VHM’s Goschen Project is gaining momentum, but the path to production hinges on final approvals and solidifying partnerships.
Questions in the middle?
- Will VHM secure all remaining secondary approvals on schedule to meet its investment decision timeline?
- How will the partnership with Mitsui & Co. influence VHM’s access to international markets and financing?
- What are the potential risks or delays in transitioning from approvals to construction and production?
