Viridis Mining Updates on Colossus Rare Earth Project
Key points
- Submitted Installation Licence application for Colossus Project
- First Mixed Rare Earth Carbonate produced from Demonstration Plant
- LOI with Solvay for MREC offtake and technical partnership
Full summary
Viridis Mining and Minerals Limited reported significant progress on its flagship Colossus Rare Earth Project in Brazil. Key highlights include the submission of an Installation Licence application, marking a major milestone towards project execution. The company also successfully produced its first batch of high-grade Mixed Rare Earth Carbonate from its Demonstration Plant, which is one of the largest semi-industrial, continuous-operation ionic clay rare earth processing plants outside China. Additionally, Viridis entered into a Letter of Intent with Solvay, a global rare earth separation leader, for a potential offtake and technical partnership. The company is also advancing its Definitive Feasibility Study and has secured key project delivery contracts. Viridis has completed all significant pre-execution activities and is fully funded to accelerate development through Final Investment Decision.
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