Victory Metals Enters Letter of Intent with Sumitomo for Cooperation on Western Australia Heavy Rare Earth Project

MT Newswires Live

2025/10/01

Victory Metals (ASX:VTM) entered into a non-binding letter of intent with Sumitomo to advance offtake and strategic cooperation for its North Stanmore heavy rare earth project in Western Australia, according to a Wednesday Australian bourse filing.

Victory will supply up to 30% of annual production, or 1,000 tonnes per year of rare earth carbonate, including up to 50 tonnes of dysprosium-terbium product for an initial five-year term.

Sales to Sumitomo from pilot plant operations are expected to begin in 2027, ahead of commercial production.

Its shares fell over 1% in recent trading on Wednesday.

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