Provisional approval has been granted for one of the world's largest critical minerals projects.The Copi Mineral Sands Project is a planned $693 million mineral sands mine around 180 kilometres south-west of Broken Hill, and about 110km north-west of Mildura, in Victoria.It aims to extract up to 400,000 tonnes of critical mineral ore each year over 18 years.The mine would be used to source rare earth concentrates and titanium-bearing minerals, including rutile and zircon.Pending final approval, production is slated to begin in 2029, and company RZ Resources said it would create up to 480 jobs during construction, and provide 240 ongoing roles. Strategic importanceThe Copi Critical Minerals Project has been recognised as globally significant to supply chains for Australia, the United States, Japan and India.The project has been under development for 11 years and was listed as one of 52 "investment-ready" mining projects in the federal government's Australian Critical Minerals Prospectus in 2024.The New South Wales government approved it this week.During the mining exploration phase, farmers raised concerns over the potential impacts of the project.Community group, Alliance for Responsible Mining Regulation Inc, did not respond to a request for comment.In order for the mine to go ahead, it must receive Commonwealth government approval under the Environment Protection and Biodiversity Conservation Act 1999.Production at the Copi Mineral Sands Project could begin in early 2029. (Supplies: RZ Resources)The minerals the project is targeting are vital for the creation of wind turbines and electric vehicles, and are prominently used in the medical device, defence, aerospace, and telecommunications industries.RZ Resources founder and executive chair David Fraser said the company was in the process of finalising a definitive feasibility study to attract investment."We're very well progressed on where we think the funding is going to come from and how we're putting it together," Mr Fraser said.RZ Resources has received investment and support for the Copi Mine from two Japanese corporations, Marubeni and JX Advanced Metals."Our products will end up in the US, in Japan, in Europe, really the markets we choose to serve," Mr Fraser said."Once we get to the final investment decision, we know it takes two-and-a-half years to build the mine, get the infrastructure in place, build the wet concentrator, all of that, there's no real way of pulling that time frame in."Shifting supply chainsNSW Minerals Council chief executive Stephen Galilee said the approval signified Australia's increasing willingness to enter the investment contest for mineral sands and rare earth materials."One global player has tied up a significant portion of the global market in relation to minerals and mineral sands, and that's China," Mr Galilee said."That's why there have been concerted steps over recent years to broaden the supply opportunities globally to access these critical minerals and also to broaden where these critical minerals can be processed."The Copi Mineral Sands Project is expected to produce up to 27 million tonnes of material per year. (Supplied: RZ Resources)The project is expected to contribute up to $97 million to the economy of the Wentworth Shire and Sunraysia region each year.Wentworth Shire Mayor Daniel Linklater said he welcomed indications that about half of the workforce would be resourced locally."It's a project of state significance, but given the industry, it's a project of global significance in the present climate of nations seeking to bolster their supply chains," Mr Linklater said.Mineral sands from the mine would be transported using an existing rail facility at Broken Hill.They would be sent to RZ Resources' mineral separation plant in Brisbane, providing an opportunity for direct export without the need for offshore processing."We've got a big role to play. It's going to take a number of companies to get up and running, not just ourselves, and I think you'll find critical minerals are here to stay," Mr Fraser said.Email address