VMM Receives Approval for R$77.5M BNDES Financing Facility

Key points

• BNDES approves R$77.5M financing for Viridis' Brazilian subsidiary
• 16-year tenor with 4-year grace period and 12-year amortization
• Funding supports rare earths research, processing, and Colossus project

Full summary

Viridis Mining and Minerals Limited (VMM) announced that the Brazilian Development Bank (BNDES) has approved a R$77.5 million (~US$15 million) financing facility for Viridis Mineração Ltda., its wholly-owned Brazilian subsidiary. The facility offers a 16-year tenor, including a four-year grace period and a 12-year amortization period, at an indicative interest rate of TR + 2.70% per annum, translating to approximately 4.8% per annum based on the current annualized TR of 2.1%. This facility supports eligible expenditures related to the development of Viridis' Rare Earths Research and Processing Centre (CPTR) in Poços de Caldas, ongoing demonstration plant operations, and research, development, and innovation (RD&I) activities. The approval follows Viridis' selection by BNDES and FINEP under Brazil's strategic minerals funding initiative, converting the Joint Support Plan into tangible funding. The CPTR produced its first Mixed Rare Earth Carbonate in May 2026 and continues with demonstration-scale production, metallurgical optimization, and process validation. The funding further strengthens Viridis' financial position, reducing the remaining senior debt requirement for the Colossus project to approximately US$280 million.

Guidance

BNDES facility reduces remaining senior debt requirement to approximately US$280 million

Outlook

Viridis is working with BNDES to identify larger-scale financing opportunities for Colossus, aligned with Brazil's strategic minerals objectives.