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.
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