Victory Metals Ltd-Victory awarded $350,000 federal Trailblazer grant

Victory Metals Ltd (ASX:VTM) has been awarded a $350,000 federal Trailblazer grant to support its North Stanmore Heavy Rare Earth Project in Western Australia. The grant is part of broader government initiatives aimed at strengthening domestic critical minerals supply chains and reducing reliance on foreign sources.

The North Stanmore project, which hosts a JORC-compliant resource of 321 million tonnes, is one of Australia’s most significant clay-hosted heavy rare earth deposits and contains critical minerals such as scandium, hafnium, and gallium. The project is strategically positioned to supply materials for advanced manufacturing, renewable energy systems, and defense technologies.

The funding will support ongoing development work, including operational data collection and the production of representative rare earth product samples for customer assessment. Victory Metals CEO Brendan Clark emphasized that the grant would facilitate engagement with potential offtake partners and advance the project toward commercialization.

The award aligns with global efforts to diversify rare earth supply chains amid geopolitical tensions and supply constraints. Victory’s pilot plant, launched with support from the Federal Resources Minister, has demonstrated a cost-effective and scalable extraction process for rare earth elements from clay-hosted mineralization.