VHM (ASX:VHM) has been awarded a three-year extension to the major project status for its Goschen Rare Earths and Mineral Sands Project in Victoria’s Loddon-Mallee region.
Major project status enables additional Australian Government regulatory support for projects of national significance through their collaboration to strategic priorities, economic growth, employment and regional Australia.
VHM, which has a market capitalisation of $69.48 million, says the status will greatly benefit the company with support, coordination, and assistance with remaining approvals, as it moves through the development phase and into construction and production.
CEO Ron Douglas says this extension serves as an important enabler for the project development plans.
“Development of the Goschen Project will initiate a new rare earths and minerals sands precinct in Victoria and help deliver the Australian Government’s Critical Minerals Strategy and the Victorian Government’s Critical Minerals Roadmap,” Douglas says.
The Goschen Project has a current proved and probable ore reserve of 199 million tonnes.
VHM is focused on rare earths and critical minerals that will power the world’s clean-energy transformation. The company owns the Goschen and Cannie projects located in Victoria.
Write to Aaliyah Rogan at Mining.com.au
Images: VHM
