Victory Metals Secures AU$250,000 Grant for Scandium Production

Victory Metals (ASX:VTM) has been chosen as the recipient of the Mineral Research Institute of Western Australia (MRIWA) research grant, the company reported on Monday (August 18).

Amounting to a total of AU$250,000, the company said the grant will be used to pursue production of high-purity scandium oxide at its North Stanmore project in Western Australia.

“(The grant also) highlights the urgent need for a secure Scandium supply amid China and Russia’s 90 percent dominance of global scandium oxide production and China’s inclusion of scandium in its export restriction list (as of) April 2025,” the company added.

As per the report, Victory Metals has already separated scandium from its high-value heavy rare earth mixed rare earth carbonate.

The JORC resource for North Stanmore is now at 7.7 million kilograms of scandium, and is projected to cost around US$630 per kilogram.

Scandium oxide is used for lightweight alloys for fighter jets and fuel cells for clean energy. It was included in the Australian government’s critical minerals list in 2018.

“This MRIWA grant has been awarded following a highly competitive process with rigorous technical scrutiny … North Stanmore’s scandium resource is a strategic asset for defence and renewable energy,” commented Victory CEO and Executive Director Brendan Clark.

North Stanmore is located approximately six kilometres north of Cue, Western Australia. Last July 30, Victory Metals reported that it had produced a mixed rare earth oxide (MREO) containing 94 percent total rare earth oxides (TREO).

On July 14, the company also shared that it has received approval from the US Government’s System for Award Management to engage with US federal agencies such as the Department of Defence (DoD) and the Export-Import Bank of the United States, allowing it to participate in strategic procurement, funding and partnership programs under US federal oversight.

“Building on our MREC separation success, (North Stanmore) positions Victory Metals as a leader in Western Australia’s role in global critical minerals supply chains.”

On August 13, the MRIWA opened applications for scholarships in 2026, saying that four outstanding PhD candidates pursuing research related to the minerals industry at any WA university may receive AU$41,000 per year.

Details on the program are available here.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.