Victory Metals Signs Strategic Offtake MOU with Fortune Global 500 Leader Sumitomo Corporation.

Victory Metals Limited (ASX: VTM) has signed a strategic non-binding Memorandum of Understanding (MOU) with Sumitomo Corporation, a Fortune Global 500 company, for a potential long-term offtake partnership. Under the MOU, Victory aims to supply Sumitomo with 30% of its annual production of Mixed Rare Earth Carbonate (MREC) from its North Stanmore Heavy Rare Earth Project in Western Australia. The initial agreement covers a five-year term, extendable for another five years, with pricing indexed to prevailing market rates.

The North Stanmore Project, holding Australia’s largest heavy rare earth clay resource of 235 million tonnes, positions Victory as a future global supplier of critical materials for technology, defence, and renewable energy. This partnership reinforces Sumitomo’s confidence in Victory’s scalability and sustainability while enabling financial, technological, and project development support. Victory’s CEO highlighted the significance of this collaboration in advancing the global rare earth supply chain and energy transition.

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