Latest news with #BrendanClark
News.com.au
14-06-2025
- Business
- News.com.au
China's rare earth metals monopoly covers both mining and refinement
Victory Metals Chief Executive Brendan Clark emphasises the extent to which China has a monopoly on rare earth metals. 'China is responsible for about 70 per cent of mining rare earths,' Mr Clark told Sky News host Ed Boyd. 'Also, about 90 per cent of the actual downstream refining.'
News.com.au
14-06-2025
- Business
- News.com.au
Trump's negotiations with China over rare earth metals show their significance
Victory Metals Chief Executive Brendan Clark talks about the growing interest among investors in the rare earth metals sector and how recent political talks between the US and China underscore the importance of these resources. 'There's a lot of potential out of Saudi Arabia, they have a 2030 vision to divert from oil and gas reliance into refining critical minerals and rare earth elements,' Mr Clark told Sky News host Ed Boyd. 'As well as some opportunity out of Japan with some of the major trading houses. 'There's fifteen elements, very difficult, you can barely pronounce them, and it's been a very hard educational piece. 'When you see Donald Trump negotiating with China and it's all about rare earths, it's a wake-up, and that shows the significance of what we have, and we have it in our backyard.'
News.com.au
14-06-2025
- Business
- News.com.au
‘Very, very scary': China is ‘weaponising' rare earth metals and has secured a monopoly
Victory Metals Chief Executive Brendan Clark says China is 'weaponising' rare earth metals and has now secured a monopoly. 'It's embarrassing, actually, what's happened, China's thirty years ahead of us, they started this in the 80s, 90s, and they are weaponising rare earths and they've got a monopoly,' Mr Clark told Sky News host Ed Boyd. 'It's very, very, scary that one country as powerful as China has such a monopoly on the rare earths space that we need in our everyday lives and for our national defence.'
Yahoo
24-04-2025
- Business
- Yahoo
Victory Metals secures $190m LOI from EXIM for North Stanmore project
Australian exploration company Victory Metals has secured a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $190m in debt financing support to develop its North Stanmore heavy rare earths, scandium and hafnium project in Western Australia (WA). The non-binding LOI has an indicative repayment term of 15 years. It also opens the possibility for Victory Metals to tap into further US Government financing through the China and Transformational Exports Program. The final financing commitment is contingent upon standard due diligence and compliance with EXIM's policies, as well as legal and eligibility requirements. Victory Metals CEO Brendan Clark said: 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad. Support from EXIM, especially under the China and Transformational Exports Programme, elevates our potential as a secure, non-Chinese supplier of critical minerals. It is also a powerful endorsement of the technical and geopolitical strength of our project.' The LOI may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. EXIM's 2019 reauthorisation encourages the bank to counteract competitive export support from China and other nations. This provision aims to bolster US leadership in sectors vital to economic and national security, such as rare earths and advanced materials. Victory Metals' North Stanmore project may benefit from this directive, which seeks to promote ethical, non-Chinese sources of critical materials. With the backing of EXIM, Victory Metals is in a stronger position to expedite negotiations with US and international downstream partners including major original equipment manufacturers and defence-aligned industries. Clark added: 'This EXIM Letter of Interest provides a clear pathway for Victory to access long-term, government-backed funding from one of the most influential export credit agencies in the world. We look forward to continuing to collaborate with EXIM as we move towards full project funding.' In January 2025, Victory Metals unveiled a substantial upgrade to the mineral resource estimate for its North Stanmore project. "Victory Metals secures $190m LOI from EXIM for North Stanmore project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
Victory Metals secures $190m LOI from EXIM for North Stanmore project
Australian exploration company Victory Metals has secured a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $190m in debt financing support to develop its North Stanmore heavy rare earths, scandium and hafnium project in Western Australia (WA). The non-binding LOI has an indicative repayment term of 15 years. It also opens the possibility for Victory Metals to tap into further US Government financing through the China and Transformational Exports Program. The final financing commitment is contingent upon standard due diligence and compliance with EXIM's policies, as well as legal and eligibility requirements. Victory Metals CEO Brendan Clark said: 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad. Support from EXIM, especially under the China and Transformational Exports Programme, elevates our potential as a secure, non-Chinese supplier of critical minerals. It is also a powerful endorsement of the technical and geopolitical strength of our project.' The LOI may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. EXIM's 2019 reauthorisation encourages the bank to counteract competitive export support from China and other nations. This provision aims to bolster US leadership in sectors vital to economic and national security, such as rare earths and advanced materials. Victory Metals' North Stanmore project may benefit from this directive, which seeks to promote ethical, non-Chinese sources of critical materials. With the backing of EXIM, Victory Metals is in a stronger position to expedite negotiations with US and international downstream partners including major original equipment manufacturers and defence-aligned industries. Clark added: 'This EXIM Letter of Interest provides a clear pathway for Victory to access long-term, government-backed funding from one of the most influential export credit agencies in the world. We look forward to continuing to collaborate with EXIM as we move towards full project funding.' In January 2025, Victory Metals unveiled a substantial upgrade to the mineral resource estimate for its North Stanmore project. "Victory Metals secures $190m LOI from EXIM for North Stanmore project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
