VHM Secures Key Heritage Plan Approval, Backed by A$379 Million in Financing Support
VHM Limited has secured approval for its Cultural Heritage Management Plan at the Goschen Project, clearing a vital regulatory hurdle and enabling formal lodgement of its Work Plan to progress development.
- Cultural Heritage Management Plan approved under Aboriginal Heritage Act
- Enables formal Work Plan lodgement for Goschen Project development
- Project holds multiple key regulatory approvals including Mining Licence and EPBC
- Conditional financing support letters secured from Export Finance Australia and US EXIM Bank
- Goschen Project features dual commodity rare earth and mineral sands assets
Cultural Heritage Approval Clears Pathway
VHM Limited (ASX – VHM) has reached a significant milestone with the approval of its Cultural Heritage Management Plan (CHMP) for the Goschen Rare Earth and Mineral Sands Project in Victoria. This approval, granted by the Secretary of the Department of Premier and Cabinet, confirms compliance with the Aboriginal Heritage Act 2006 and allows VHM to formally lodge its Work Plan, a critical step towards advancing the project’s development.
The CHMP approval reflects VHM’s commitment to respecting and protecting Indigenous cultural heritage, a vital consideration for mining projects in Australia. It also signals positive engagement with Traditional Owners and stakeholders, which will be essential throughout the life of the project.
Building on a Strong Regulatory Foundation
The Goschen Project has already secured several major regulatory approvals, including the Environment Effects Statement endorsement in December 2024, a Mining Licence in April 2025, and EPBC (Environment Protection and Biodiversity Conservation) approval in September 2025. These milestones collectively establish a robust compliance framework, reducing regulatory risk as VHM moves closer to production.
Strategically located in Victoria’s Loddon Mallee region, the project benefits from excellent infrastructure access, including road, rail, and port facilities. This logistical advantage supports VHM’s staged development strategy, which aims to efficiently bring the dual commodity asset; rare earth elements and heavy mineral concentrates; to market.
Financial Backing and Market Potential
Financially, VHM has garnered conditional support letters from Export Finance Australia for up to A$75 million and from the US Export-Import Bank for up to US$200 million (approximately A$304 million). These letters of support underscore confidence in the project’s viability and provide a clear pathway to securing the capital necessary for development.
The Goschen Project’s rare earth assemblage is particularly compelling, containing both light rare earths such as Neodymium and Praseodymium, and heavy rare earths including Dysprosium and Terbium. These elements are critical for emerging technologies, including electric vehicles and renewable energy systems, positioning VHM well within a growing global market.
Looking Ahead
With the CHMP approval now in hand, VHM is poised to finalize its Work Plan and advance towards production. The company’s straightforward mining and processing approach; shallow-pit mining with conventional flowsheets; adds operational clarity. However, the timing of final financing arrangements and detailed production guidance remain to be seen.
As VHM progresses, investors and stakeholders will be watching closely for updates on the Work Plan lodgement, financing finalisation, and any forthcoming production targets that will further define the project’s commercial trajectory.
Bottom Line?
VHM’s cultural heritage approval marks a pivotal step, but the next phase hinges on financing and production clarity.
Questions in the middle?
- When will VHM formally lodge and receive approval for its Work Plan?
- What are the specific conditions attached to the financing support letters from Export Finance Australia and US EXIM Bank?
- How soon can VHM provide production guidance or timelines for the Goschen Project?
