VHM unlocks pathway to production at Goschen

VHM has reached a major milestone in the development of its flagship Goschen rare earths and mineral sands project.

Resources Victoria has granted the mining licence for the Goschen project in the north-west of the state.

This is an important step for VHM as it looks to transition from explorer to developer, with a final investment decision (FID) aimed for 2025 and first production targeted for late 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,” VHM chief executive officer 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.”

The licence enables VHM to mine the land, conduct further exploration and construct facilities for mining.

The project has also had its environment effects statement (EES) endorsed, with Goschen just needing a handful of secondary approvals before it can begin construction.

With a Tier 1 resource featuring a globally significant mineral assemblage, Goschen is set to become a cornerstone of Victoria’s critical minerals supply chain.

The project hosts both light (neodymium and praseodymium) and heavy (dysprosium and terbium) rare earths, alongside heavy minerals such as zircon and titanium.

“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,” Douglas said.

“VHM will now continue working towards finalising important financing and offtake agreements, as well as securing the remaining approvals we require.”