The Victorian Government has given approval to VHM Limited’s cultural heritage management plan for its flagship Goschen rare earth and mineral sands project.
The plan, which covers resource extraction activities, was approved by the Secretary of the Department of Premier and Cabinet. The decision confirms that the plan meets requirements under the Aboriginal Heritage Act 2006 and associated regulations.
The company said the government’s greenlight represents a significant milestone and enables VHM to formally lodge and finalise its work plan to advance the development of the project, located in the Loddon Mallee region.
“VHM acknowledges the importance of cultural heritage protection and remains committed to working respectfully with Traditional Owners and stakeholders throughout the life of the Goschen project,” the company said.
The approval follows the news recently that VHM received a non-binding and conditional Letter of Support from Export Finance Australia (EFA) for the provision of up to $A75 million and an updated Letter of Interest from the Export-Import Bank of the United States (EXIM) for up to $US200 million ($A304m), with an improved term of up to 15 years in potential financing for Goschen project.
VHM was among the initial tranche of companies and projects to benefit from the US-Australia critical minerals deal.
At the time, VHM chief executive officer Andrew King said the company was delighted with the outcome, and it was a major step forward in the company’s financing strategy for the project.
“We look forward to progressing these partnerships as we advance toward final investment decision,” King said.
In September, VHM secured federal approval under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) for the project.
The federal approval marked a major regulatory milestone, following the successful completion of an Environmental Effects Statement in December 2024 and the granting of a mining licence by Resources Victoria in April 2025.
The Goschen project is regarded as a Tier 1 integrated rare earth and mineral sands project with globally significant mineral assemblage.
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