The Australian Government has recognised the Fingerboards Critical Minerals Project in East Gippsland through its newly launched Australian Critical Minerals Prospectus, which notes the project “stands out” for its high heavy rare earths content.
Released by the Minister for Resources Madeleine King and the Minister for Trade and Tourism Don Farrell, the Prospectus promotes just 49 mining projects from across Australia to global investors and international partners.
The Prospectus highlights the Fingerboards project specifically for its Dysprosium and Terbium (DyTb) content, both crucial to the supply of permanent magnets used across renewable energy, defence and advanced medical applications.
Fingerboards is one of only two critical minerals projects in Victoria with no Chinese ownership or offtake arrangements, with its strategic materials covered in the United States–Australia Framework for Securing the Supply of Critical Minerals and Rare Earths.
GCM CEO Michelle Wood said the inclusion underscores the scale of what this project could deliver for the region.
“This is about attracting skilled local jobs, training and building long-term economic capability, but it’s also about contributing to Australia’s ability to ensure a secure supply chain of its own resources.”
Independent analysis by Adamas Intelligence also found the Fingerboards composition has a higher relative concentration of NdPr oxide (as well as Dy and Tb oxide) than MP Materials’ Mountain Pass mine in the U.S. – the world’s second most productive rare earth operation.
According to the Prospectus, with modifications to the mining area and methods, water usage, sustainable sourcing and tailings management, GCM is on track to fulfill its potential as a leading supplier of REE, zircon and titanium and delivering supply chain security of these critical minerals.
GCM has been established to develop the Fingerboards Critical Minerals Project and is jointly owned by Australian-owned REZir Ltd and the UK owned Appian Capital Advisory, a global investor in critical minerals projects with a track record of high-quality project delivery.
Currently, GCM is progressing the project through state and federal regulatory framework, following a comprehensive rescoping to strengthen environmental safeguards, water management and community outcomes.
To view the Australian Critical Minerals Prospectus visit international.austrade.gov.au, or to stay up to date with the latest from Gippsland Critical Minerals visit gippslandcriticalminerals.com.
