Victory Metals Secures Strategic Backing from Saudi Sovereign Fund

Victory Metals Ltd (ASX: VTM) has secured a US$10 million unsecured loan from Sanabil Investments, a key arm of Saudi Arabia’s Public Investment Fund. The funding features a 2-year interest moratorium and a 3.9% interest rate thereafter. Notably, Sanabil gains first refusal rights on a future AU$330 million development financing for Victory’s North Stanmore Project, a major rare earths asset in Western Australia. The alliance supports Saudi Arabia’s Vision 2030, a national initiative aimed at broadening the economy through targeted investments in vital mineral resources and industrial development. The funds will support exploration and development to fast-track North Stanmore’s advancement. With a 72-month term and no fees or penalties for early repayment, the deal enhances Victory’s global profile. Sanabil, known for investing US$3 billion annually in transformative projects, sees Victory’s heavy rare earths project as pivotal for non-Chinese supply chains and industrial growth, strengthening the project's geopolitical and commercial significance.

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