Viridis Mining and Minerals

About

Viridis Mining and Minerals is an ASX-listed explorer developing the high-grade Colossus ionic-adsorption rare earths project in Brazil.

Mission

Viridis Mining and Minerals is focused on bringing the Colossus rare earths deposit in Brazil’s Poços de Caldas region into production. Colossus is regarded as one of the highest-grade ionic adsorption deposits outside China and contains all four key magnet metals—neodymium, praseodymium, dysprosium and terbium. A February scoping study projected life-of-mine EBITDA of US$2.28 billion over 20 years, averaging US$114 million per annum, with operating costs estimated at just US$6/kg of total rare earth elements. The study outlines production of 146 tpa of neodymium-praseodymium for the first five years, rising to 156 tpa thereafter, alongside significant samarium, gadolinium and yttrium resources. Near-term priorities include securing environmental permitting, infill drilling to upgrade resources, constructing a research and processing centre, and commissioning a mixed rare-earth carbonate demonstration plant by next March. A definitive feasibility study led by Hatch is scheduled for completion by June, ahead of a final investment decision targeted within 12 months. Export credit agencies such as Export Development Canada, Bpifrance and BNDES have signalled interest in future project financing. The company’s recent US$30 million equity infusion provides the capital to accelerate these milestones while limiting shareholder dilution through price floors on later tranches.

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