Victory Metals has secured a mining lease over its North Stanmore Heavy Rare Earth Project in Western Australia's Cue region, advancing the tenure framework for the proposed development.
The company announced on 14 September that Mining Lease M20/564 was granted on 11 September 2026. It covers almost 2,006 hectares and converts existing exploration and prospecting tenure, leaving Victory's footprint in the area unchanged.
Tenure milestone supports development planning
The grant follows North Stanmore's August pre-feasibility study, maiden ore reserve and updated mineral resource estimate. It also follows an agreement with the Wajarri Yamaji Aboriginal Corporation that supported the native title process.
Victory said the lease adds certainty as it progresses technical work, remaining approvals and commercial arrangements. The company also pointed to commissioning of its Perth pilot plant and production of rare earth mineral concentrate as a basis for further technical evaluation.
Approvals and financing work continue
The mining lease is one part of the development pathway. Technical, environmental and commercial due diligence, further approvals, offtake arrangements and financing work remain ahead of a future development decision.
A previously announced US Export-Import Bank letter of interest for up to US$190 million is non-binding. Any financing commitment remains subject to due diligence, eligibility requirements and final approval.
For the mining workforce, North Stanmore's next phases may create demand for project planning, technical and environmental capability as development progresses. The announcement does not confirm vacancies or a recruitment timetable.
Source: Victory Metals, Mining Lease Granted for North Stanmore, 14 September 2026.