An aspiring Australian rare earths miner will sell the majority of its product to China under an early-stage agreement struck barely seven months after it joined other critical minerals producers on a trade mission to Washington DC.

VHM Limited announced that it had struck a memorandum of understanding to sell most of its future product to China’s biggest importer of rare earths concentrate, Shenghe, which this year acquired 19 per cent of ASX rare earths developer Peak Resources.