VHM (ASX:VHM) said Resources Victoria approved a mining license for its Goschen rare earth and mineral sands project, according to a Friday Australian bourse filing.
It will be entitled to mine the land covered by the license, explore for minerals, and construct mining facilities related to the mining operation.
The first production at Goschen is anticipated for late 2026. All necessary remaining secondary approvals to construct, operate, and close the project are progressing and the firm will also finalize investment talks and develop strategic partnerships.
It recently appointed an independent technical, environmental, and social due diligence review for the project financing.
Its shares rose 7% in recent trading on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.