VHM Receives Mining Licence for Goschen Project

VHM (ASX: VHM) has obtained a significant milestone to accelerate the path towards a Final Investment Decision, construction and production at Goschen, its world-class Goschen Rare Earth and Mineral Sands Project in Victoria.

Resources Victoria has granted VHM a Mining Licence enabling the company to mine the land covered by the licence; explore for minerals and construct mining facilities related to the mining operation.

With the Environment Effects Statement (EES) endorsed and Mining Licence approved, all necessary remaining secondary approvals to construct, operate and close the project are progressing. VHM will also finalise investment discussions and develop strategic partnerships as it progresses towards a Final Investment Decision (FID) to develop the Goschen Project.

VHM was also recently awarded a three-year extension to Major Project Status for the Goschen Project by the Commonwealth Industry Minister.

“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,” CEO, Ron Douglas, said.

“For shareholders of the company and potential financiers, this is a critical approval in the ongoing process of advancing Goschen through development and into production. 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. VHM will now continue working towards finalising important financing and offtake agreements, as well as securing the remaining approvals we require.”

Securing the Mining Licence is a key milestone required by VHM to develop the Goschen Project. Remaining secondary approvals are advancing, with the Company remaining on track as it moves towards a Final Investment Decision, construction and production.

The award of the Mining Licence will further accelerate the advanced discussions with potential off-take and project financing partners for the Goschen Project, progressing them towards completion in the near term.

VHM has recently appointed an Independent Technical, Environmental and Social due diligence review for the project financing.