Victory Metals & Sumitomo Team Up for North Stanmore Heavy Rare Earth Project
Victory Metals has teamed up with Sumitomo Corporation to advance the North Stanmore heavy rare earth project in Western Australia. This collaboration combines Australian resources and Japanese industry, aiming to boost global critical mineral supplies.
North Stanmore holds Australia's largest indicated clay-hosted heavy rare earth resource, with a mineral resource estimate of 320.6 million tonnes at 510 ppm total rare earth oxide and scandium oxide. Victory Metals plans to produce approximately 28,000 tonnes of mixed rare earth carbonates annually from this project.
The partnership with Sumitomo Corporation offers multiple advantages. It secures market access and commercial validation, provides technical support and financial credibility, and strategically positions the project. This collaboration also strengthens Australia's global critical mineral markets and enhances Japan's resource security. The heavy rare earth elements from North Stanmore will be crucial for high-performance magnets, wind turbine generators, advanced defense applications, medical imaging equipment, and next-generation electronics.
Victory Metals will supply Sumitomo with up to 30% of its annual production, capped at 1,000 tonnes per year of mixed rare earth carbonate. The partnership includes provisions for pilot-scale product testing, early sales, and long-term offtake arrangements. The deposit also contains significant concentrations of other critical minerals, such as gallium oxide, hafnium, and scandium oxide, further enriching its value.
The North Stanmore project, with its unique clay-hosted deposit and high concentration of heavy rare earths, sets it apart from other Australian rare earth projects. Through this partnership with Sumitomo Corporation, Victory Metals ensures a direct connection to Japanese markets, enhancing the project's prospects and contributing to global critical mineral supplies.
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