VHM (ASX:VHM) has been awarded a three-year extension to the major project status for its Goschen Rare Earths and Mineral Sands Project in Victoria’s Loddon-Mallee region.

Major project status enables additional Australian Government regulatory support for projects of national significance through their collaboration to strategic priorities, economic growth, employment and regional Australia.

VHM, which has a market capitalisation of $69.48 million, says the status will greatly benefit the company with support, coordination, and assistance with remaining approvals, as it moves through the development phase and into construction and production.

VHM extends major project status for Goschen