New rare earths player begins trading with Ellison backing

Chris Ellison-backed VHM Limited says it is in talks with established rare earths players in Australia as it starts life as a public company and aims to become a globally significant supplier of the critical mineral from a mine in rural Victoria.

VHM will begin trading on the ASX on Monday with a market capitalisation of about $265 million after raising $30 million at a $1.35 a share.