VHM Limited (VHM) is a mineral sands and rare earths exploration and mine development company that listed on the Australian Stock Exchange in January 2023. VHM owns 100 percent of the advanced stage Goschen Rare Earths and Mineral Sands Project, a proposed mining and processing facility located in the Loddon-Mallee Region of north-west Victoria. The project will operate for 20-25 years and is expected to create at least 250 construction jobs and 400 full time jobs, boosting the local economy. The project will mine rare earths, zircon-titania heavy mineral concentrate (HMC), and mixed rare earth carbonate (MREC), as well as premium zircon, high titanium rutile (HiTi), HiTi leucoxene, and low chromium ilmenite. These minerals are used in a variety of industrial applications which include permanent magnets needed in electric vehicles and offshore wind turbines, and superconductors. The project will produce more than $2 billion for the local economy and an additional $1.4 billion for the State.
The mine footprint will cover 1,534 hectares of farmland. Mining will be undertaken using conventional open cut mining methods, and the heavy mineral sands and rare earths will be processed on site. The mined areas will be progressively backfilled, and the tailings and waste will be placed back into the open pit. The project will require up to 4.5 gigalitres of water per year which will be sourced from Goulburn Murray Water via the open water market. A new pump station will be built at Kangaroo Lake from where the water will be pumped to site. The power needed for mining and processing will be produced on site from multi-fuel diesel/LNG and LPG power generators, and the project will investigate renewable power opportunities.