Victory Metals forms partnership with Curtin University to develop Murchison strategic defence metals project

Curtin University and Victory Metals have announced a strategic partnership to accelerate the development of Victory’s North Stanmore heavy rare earths and strategic defence metals project in the Murchison. Victory last week said its ambition for North Stanmore near Cue was to help supply Australia with the materials needed for clean energy technologies, electric vehicles, advanced electronics and defence. The company said the partnership would see it collaborate with the Australian Government-backed, Curtin-led Resources Technology and Critical Minerals Trailblazer initiative. This would involve Curtin contributing specialist staff with expertise in water management, recycling and recovery, metallurgy and more as North Stanmore advanced towards commercial production. Victory said the parties would also co-develop a pilot plant in Burswood. Victory chief executive and executive director Brendan Clark said the partnership with Curtin would deliver massive technical momentum. “(It) positions the company to lead Australia’s heavy rare earth supply chain and puts sustainable production firmly within reach,” he said. Curtin’s WA School of Mines head Professor Mark Buntine said the partnership reflected the university’s leadership in critical minerals and advanced processing. “Curtin is a national leader in minerals processing, hydrometallurgy and sustainable resource technologies, with advanced facilities and a strong track record of translating research into industry outcomes,” he said. “We are proud to lead the technical development of this nationally significant project, bringing together our world-class expertise with Victory Metals’ exceptional North Stanmore rare earth resource.” Victory said North Stanmore was Australia’s biggest clay-hosted heavy rare earth resource. In its latest quarterly report, Victory said the project was strategically positioned to become a potential producer of heavy rare earth elements and critical minerals which were subject to export restrictions from China, including dysprosium, terbium and yttrium. The company in December said it had received kinetic leach results showing a major reduction in leach time, with 80 per cent of rare earths leached in 30 minutes compared to the four-hour assumption used in the scoping study. The scoping study released last March estimated North Stanmore had a net present value post-tax of $1.2 billion and a 52 per cent internal rate of return from its $337 million cost to build. North Stanmore would have a 31-year mine life, Victory said, with the 320.6 million tonne mineral resource estimate having a large amount of heavy rare earths, which are a subset of the rare earth element family. Heavy rare earths have a higher atomic weight than their “light” counterparts and are less common. Victory in October also entered into a non-binding letter of intent with Sumitomo Corporation, one of Japan’s most powerful and globally recognised trading houses, to advance offtake and strategic co-operation for North Stanmore. The latest quarterly report stated the letter of intent outlined the offtake framework for North Stanmore’s mixed rare earth product, with Victory to supply up to 30 per cent of annual production, or 1000 tonnes per year, including up to 50 tonnes DyTb product for an initial five-year term. Victory said sales to Sumitomo from pilot plant operations were expected to start next year ahead of commercial production. The company said it had also appointed Emma Doyle as its senior adviser for US strategic engagement, providing it with direct insight into US policy and government affairs at a pivotal time for the rare earths sector. Victory said Ms Doyle had served as principal deputy chief of staff to US President Donald Trump, where she directed core West Wing functions and advised the president and his senior leadership team. She also held senior roles at the White House Office of Management and Budget and in the Office of First Lady Melania Trump. Her engagement followed the landmark agreement between Mr Trump and Prime Minister Anthony Albanese, in which the US and Australia announced billions of dollars in joint investment to build allied rare earth and critical minerals supply chains. The company had available cash of about $13.56m at December 31.