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VHM Ltd (ASX:VHM) has taken a key step towards the development of the Goschen rare earth and mineral sands project in Victoria, with the state government awarding the company a mining licence over the project.
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This licence from Mining Victoria – and its previous endorsement from the Environmental Effects Statement (EES) – now edges VHM closer to a final investment decision, construction, and production at the project.
The first of these will be locked in by the end of 2025; first production is to start in 2026.
“The approval of the Goschen Mining Licence is the latest significant milestone for VHM and
further de-risks the project as we target a Final Investment Decision,” the company’s CEO Ron Douglas said today.
“For shareholders of the company and potential financiers, this is a critical approval in the process of advancing Goschen through development and into production.”
The licence lets the company mine, explore for minerals, construct mining facilities for future operation, and aids in finalising agreements with any finance and offtake partners.
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Mr Douglas continued: “Goschen has the potential to become an important Victorian supplier of critical minerals and we thank Resources Victoria for recognising the opportunity the Goschen Project represents for the state.”
The project also received a three-year extension for its Major Project status.
VHM has been trading at 22.5 cents heading into Friday.
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