Gippsland Critical Minerals’, Media Release, 24 February 2026
Gippsland Critical Minerals’ redesigned Fingerboards Project has been awarded Major Project Status (MPS) by the Australian Government, recognising its global supply impacts, economic benefits and its alignment with national interest.
Senator The Hon Tim Ayres, Minister for Industry, Innovation and Science has awarded Major Project Status to the Fingerboards Project for a period of 3 years, a decision based on the projects potential contribution the Australian critical minerals sector, specifically as a supplier of rare earth elements and zircon, with onsite separation and rail transport for downstream refinement.
The recognition follows confirmation from the Victorian Minister for Planning that the redesigned project will proceed through an Environment Effects Statement (EES), acknowledging a materially different proposal from that considered in 2021.
“Together, these decisions mark a major step forward for the project,” said GCM Chief Executive Officer Michelle Wood.
“Gippsland Critical Minerals is making a $295 million investment supporting around 400 construction jobs and around 300 ongoing jobs through the Fingerboards project. This represents an investment that will see more than $180 million in mining royalties return to Victorians.”
“It will also provide ancillary benefits to the community by providing the base load capacity of freight rail – opening an international freight gateway for East Gippsland farmers, businesses and industry and plans for legacy water infrastructure to support local water security for the long term,” she said.
The Fingerboards Project is expected to produce annually 200 tonnes of heavy rare earth oxides (DyTb), representing approximately 7.1 per cent of global supply; 1,800 tonnes of light rare earth oxides (NdPr); and 75,000 tonnes of zircon, representing about 7.2 per cent of global supply. According to Adamas Intelligence, 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.
Separately, the Fingerboards project is also included in Australian Government’s Critical Minerals Prospectus as one of 49 promoted projects nationally.
Major Project Status provides coordinated engagement with the Commonwealth’s Major Projects Facilitation Agency as the project progresses through approvals. The project remains subject to all relevant state and federal regulatory processes.
The EES process now underway will provide Victoria’s most comprehensive and transparent assessment pathway, enabling detailed examination of environmental impacts, mitigation measures and community input.
For more information on GCM visit gippslandcriticalminerals.com. To learn more about Major Project Status visit industry.gov.au/major-projects-and-procurement.
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