Victory achieves first for Australian rare earths

Victory Metals has successfully produced a mixed rare earth oxide (MREO) product containing 94 per cent total rare earth oxides (TREO) from its North Stanmore project in Western Australia.

The company said this marks the highest-grade heavy rare earth-enriched MREO ever produced in Australia from a clay-hosted rare earths system, confirming the technical viability of Victory’s proprietary processing flowsheet.

“This is one of the most significant technical and commercial breakthroughs in Victory’s journey so far,” Victory Metals chief executive officer and executive director Brendan Clark said.

“To produce a 94 per cent TREO mixed rare earth oxide in Australia from a clay-hosted system, that is enriched with heavy rare earths is to our knowledge, a first in Australia and sets a new benchmark for the whole sector.”

The MREO was produced from a large composite sample comprising 453 individual samples from across the North Stanmore project, averaging 525 parts per million (ppm) TREO.

The result validates both the scale and uniformity of the deposit and was achieved without the need for additional capital-intensive concentration or cracking processes.

“This shows the samples were not ‘cherry picked’ and highlights the true commercial value of the North Stanmore deposit,” Clark said.

“Victory is now sitting at the most advanced downstream processing point, prior to rare earth separation and metallisation.”

The production milestone was completed in partnership with ALS metallurgy laboratory in Western Australia and Victory’s in-house technical team.

The MREO product is essentially free from deleterious elements, further enhancing its marketability and strategic value in a global supply chain increasingly seeking secure, non-Chinese sources of critical minerals.

“This result enhances our strategic positioning in a tightening global market that has already attracted elevated offtake interest,” Clark said.

“We are strategically progressing offtake conversations and remain focused on only partnering with groups that not only share our strategic vision but are also aligned in supporting shareholder value.”