VHM (ASX:VHM) has entered into a memorandum of understanding (MoU) with privately held Currumbin Minerals for the supply and delivery of a zircon-titania heavy mineral concentrate (HMC) from the Goschen Project in Victoria.
Currumbin Minerals operates Australia’s latest-technology heavy mineral sands gravity, electrostatic and magnetic processing plant based in Queensland.
The MoU sets out the framework and timeline for the two parties to collaborate towards a proposed collaboration agreement.
VHM, which has a market capitalisation of $67.3 million, says the collaboration will enable the company to sell its HMC to Currumbin Minerals for processing through its wholly owned and operated licensed treatment facility in Southeast Queensland.
CEO Ron Douglas says this deal is a significant step in the company’s strategy to build a domestic supply chain for its rare earths and mineral sands products to further align itself with the Victorian Government’s Critical Minerals Roadmap.
The state government’s Critical Minerals Roadmap comprises four key themes including mapping opportunities, modern regulatory regime, production and processing, and sharing the benefits.
The roadmap is considered the first step in Victoria’s contribution to the global supply of ethically sourced, high-quality minerals essential for the energy transition and advanced technologies.
This news comes after VHM was awarded a three-year extension to the major project status for Goschen. 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.
Goschen is considered a tier one integrated rare earth and mineral sands project, located in northwest Victoria.
Currumbin Minerals is a heavy mineral sands producer with a processing facility in the Gold Coast, Queensland.
Write to Aaliyah Rogan at Mining.com.au
Images: VHM
