Victory Metals strengthens North Stanmore HREE grades with low-cost processing

• Simple and straightforward beneficiation process with no expensive reagents or circuits
• Terbium grades increased 53%, dysprosium 25% and scandium 100%
• All three minerals included in December 1 Chinese export ban, rapid price strengthening

Special Report: With global attention on rare earths reaching a fever pitch, Victory Metals has materially increased the grades of three important heavy rare earths from its North Stanmore project with a simple separation process.

Victory Metals (ASX:VTM) achieved a 53% increase in terbium grades, 25% increase in dysprosium and 100% increase in scandium using a low-cost size-by-fraction separation (-10.8 μm) method.

VTM said pre-concentrating the ore for the -10.8 μm fines stream also offered potential to reduce downstream tonnage and potentially lower reagent consumption down the line.

All three elements are included in an export ban set to be imposed by China on December 1, 2025.

This specifically targets military end-use applications of these heavy rare earth elements (HREEs) and has dramatically sharpened attention on the strategic importance of the minerals.

China dominates production and processing of rare earths and particularly heavy rare earths, achieving a near-monopoly on dysprosium and terbium.

Addressing China’s critical mineral dominance

The International Energy Agency estimates that Beijing supplies about 61% of total rare earths production and 92% of processing globally.

Recently, the Australian and US governments inked a rare earths agreement that will provide a pipeline of $13 billion (US$8.5 billion) in grants for “ready-to-go” projects.

The deal includes US$1 billion to be invested by the two countries in projects in the US and Australia over the next six months.

Victory Metals’ CEO and executive director Brendan Clark said the company’s improved rare earth grades were an incredible outcome considering the current global emphasis on critical and strategic minerals.

“With a simple and low-cost size fractionation step, we’ve delivered significant grade increases in three of the world’s most strategically important elements, terbium, dysprosium and scandium,” he said.

“As governments move to secure non-Chinese supply amid China’s proposed export bans on these elements due to their important role in military, projects like North Stanmore become even more critical. 

“Our results show we can concentrate the value upfront, potentially lowering operating costs and boosting payables.”

Largely due to the increased geopolitical importance of rare earths, the prices of VTM’s basket of critical minerals has also strengthened rapidly since the company’s scoping study in March.

Terbium is now priced at US$3600 per kilogram and dysprosium at US$850 per kilogram.

This article was developed in collaboration with Victory Metals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.