Victory Metals Secures $250K Grant to Boost Strategic Scandium Project
Victory Metals has won a $250,000 MRIWA grant to advance its North Stanmore scandium project, positioning itself amid rising global supply risks due to export controls by China and Russia.
- Awarded $250,000 Minerals Research Institute of Western Australia grant
- North Stanmore holds 7.7 million kg of scandium with forecast price of US$630/kg
- China and Russia control 90% of global scandium supply, with new export restrictions
- Victory separates scandium from heavy rare earth elements, aiming for leadership in scandium oxide
- Project supports Western Australia’s critical minerals and defense supply chain security
Victory Metals Advances Strategic Scandium Project
Victory Metals Ltd (ASX, VTM) has secured a significant $250,000 research grant from the Minerals Research Institute of Western Australia (MRIWA), underscoring the strategic importance of its North Stanmore Project. This grant follows a rigorous technical evaluation process, validating Victory’s innovative approach to producing high-purity scandium oxide, a critical mineral increasingly vital for defense and renewable energy applications.
Scandium’s Rising Global Importance Amid Supply Risks
North Stanmore’s mineral resource estimate includes an impressive 7.7 million kilograms of scandium, with a forecast price of approximately US$630 per kilogram. This positions Victory Metals at the forefront of a market grappling with supply chain vulnerabilities. China and Russia currently dominate about 90% of global scandium oxide production, and China’s recent addition of scandium to its export control list in April 2025 has heightened concerns over secure supply, especially for strategic sectors like defense and clean energy.Scandium’s unique properties make it indispensable for lightweight aluminum alloys used in fighter jets, commercial aircraft, electric vehicles, drones, and precision-guided missiles. Additionally, it plays a crucial role in solid oxide fuel cells, such as those developed by Bloom Energy, which are pivotal for clean industrial power generation.
North Stanmore’s Strategic and Economic Potential
Victory Metals has successfully separated scandium from its heavy rare earth element concentrate, enhancing the project’s value and positioning North Stanmore as a potential leader in scandium oxide production. The project boasts a robust net present value of $1.2 billion and a projected mine life of 31 years, reflecting its long-term significance.This development aligns with Western Australia’s broader critical minerals strategy, emphasizing downstream processing and supply chain security. By advancing North Stanmore, Victory Metals contributes to reducing geopolitical risks associated with reliance on dominant global suppliers, thereby supporting Australia’s defense and renewable energy sectors.
Looking Ahead
Victory Metals’ CEO Brendan Clark highlighted the grant’s competitive nature and the project’s strategic merit, emphasizing the company’s ambition to lead in scandium oxide production. With global demand for critical minerals intensifying, North Stanmore’s unique alkaline intrusion and substantial resource base offer a compelling opportunity to reshape supply dynamics.As Victory Metals progresses, the company’s technical advancements and market positioning will be closely watched by investors and industry stakeholders eager to see how it navigates the evolving landscape of rare earth elements and critical minerals.
Bottom Line?
Victory Metals’ MRIWA grant marks a pivotal step in securing Australia’s role in the global scandium supply amid tightening export controls.
Questions in the middle?
- How will Victory Metals scale production to meet growing global scandium demand?
- What impact will China’s export restrictions have on scandium pricing and supply chains?
- Can Victory leverage its heavy rare earth separation success to attract further investment?
