Victory Metals (ASX:VTM) has executed a key agreement with the Wajarri Yamaji Aboriginal Corporation to facilitate the granting of a mining licence for the North Stanmore Heavy Rare Earth Element (HREE) Project near Cue, Western Australia.
The agreement was authorised by the Minangu Land Committee Common Law holders at a duly convened authorisation meeting and secures traditional owner consent and land access arrangements.
The company says the agreement represents a ‘key step’ in the native title process towards granting a mining licence for the project.
CEO Brendan Clark says the milestone supports the project’s progression in step with the Prefeasibility Study (PFS) and the previously announced US$190 million ($264.8 million) EXIM Bank Letter of Intent.
“Reaching agreement with the Wajarri Yamaji People is a significant milestone for North Stanmore, and one we have approached with diligence, care, and respect,” Clark says.
Clark notes the agreement secures land access and clears a key step toward a mining licence, as Victory advances North Stanmore through the PFS.
The Wajarri Yamaji People are the traditional owners and native title holders of a large area of the Mid West of Western Australia, spanning the Murchison and Gascoyne regions.
The Wajarri Yamaji Native Title Determination encompasses approximately 85,000km².
The company’s August 2025 Mineral Resource Estimate for North Stanmore totalled 320.6 million tonnes, most of which was classified as indicated.
Victory Metals states that this places North Stanmore as the country’s biggest indicated clay‑based heavy rare earth deposit.
Write to JC Villarba at Mining.com.au
Images: Victory Metals
