VHM (ASX:VHM) has terminated its offtake agreement with Shenghe Resources (SSE:600392) regarding the Goschen Rare Earths and Mineral Sands Project in Victoria, after numerous conditions outlined in the agreement were not met.
The company says the termination of this agreement maximises optionality, matching its “proactive strategy to unlock greater long-term value by being able to engage with a broad range of global partners in the critical minerals sector”.
Macquarie Capital has been appointed as the company’s financial advisor to lead further discussions surrounding offtake and partnerships for development at Goschen.
VHM expects to first produce rare earths and mineral sands concentrates from Goschen by the end of 2027.
The company currently has all of its rare earths concentrate available for offtake.
VHM is a rare earths and mineral sands developer focused on advancing the Goschen Project, which is located in the Loddon Mallee region of Victoria.
Write to Maddison Elliott at Mining.com.au
Images: VHM
