Viridis grows rare earths stature with expanded | Australian Markets

Critical minerals explorer Viridis Mining and Minerals is accelerating the development of its Colossus rare earths project in Brazil, with a strategic landholding growth.

The news comes scorching on the heels of the company’s not too long ago introduced milestone of a 200.6 million-tonne maiden ore reserve, with a 740 elements per million magnet rare earth oxide (MREO) grade, which can assist a 40-year mine life.

Bolstered by a latest $11.5 million placement, the company’s unmatched ionic clay economics place it to trip a latest wave of important minerals demand. The company’s share price has already quadrupled prior to now three months. It closed at $1.25 a share yesterday.

Viridis’ latest growth within the municipality of Poços de Caldas, in Brazil’s Minas Gerais state, has secured an further 2503.6 hectares of potential ground, bringing the company’s complete landholding to 23,468ha within the world-class ionic adsorption clay rare earths district.

The growth strengthens Viridis’ place to provide important minerals very important for renewable power applied sciences, from electric vehicle magnets to wind turbine elements. The new tenements, which largely lie subsequent to present licences, improve the project’s scale and operational flexibility.

The Northern Concessions space, the guts of the Colossus manufacturing hub, has expanded by 46 per cent and incorporates new land with confirmed high-grade mineralisation.

Drilling outcomes alongside the new boundaries embrace intercepts comparable to 52 metres at 2926ppm complete rare earth oxides (TREO), with 4239ppm MREO over 8m, confirming robust continuity into the new areas and pointing to the potential for vital useful resource growth.

The growth permits Viridis to optimise its mine plan within the supportive jurisdiction of Poços de Caldas, streamlining development timelines and paving the best way for useful resource growth via focused drilling.

About 7 kilometres northeast of the Northern Concessions, the Tamoyo district has been expanded by 144 per cent, securing control over a high-value space within the Poços de Caldas alkaline advanced.

With an inferred useful resource of 18 million tonnes at 770ppm MREO – the highest-grade deposit within the Colossus portfolio – the Tamoyo district’s potential is underscored by drill outcomes comparable to 25m at 3465ppm TREO.

The growth positions Tamoyo as a key contributor to early manufacturing, enhancing the project’s financial profile.

This acquisition marks a pivotal milestone for Viridis as we secure substantial further ground instantly adjoining to our present licences in Poços de Caldas.

Morena stated the company’s long-standing relationship with the Poços de Caldas municipality was central to its success, given its “strong track record of supporting mining projects and deep understanding of the sector”.

“Their continued support provides us with a de-risked pathway to approvals and development. Having already delineated nearly half a billion tonnes of resource from only a fraction of the Colossus landholding, this expansion significantly elevates the project’s scale and long-term potential,” he stated.

Meanwhile, the rising Western district, on the advanced’s western flank, reveals promise with early drilling outcomes comparable to 13m at 7632ppm TREO, together with 4m at 2322ppm TREO, signalling untapped potential for future useful resource definition.

The 852 ha Western district mining proper is already on the ‘requested’ stage within the approvals course of. It gives a compelling platform to additional increase Colossus westward within a supportive jurisdiction.

Viridis’ strategic imaginative and prescient extends past mining and extraction. Through its Viridion three way partnership with main international rare earth and heavy earth provider Ionic Rare Earths, the company is building South America’s first pilot-scale facility for refining and recycling high-purity rare earth oxides.

The Centre for Rare Earths Innovation, Technology and Recycling, being in-built Poços de Caldas, is set to open subsequent yr.

By siting its operations outdoors environmental preservation areas, Viridis has minimised the regulatory hurdles for Colossus and ensured a clear path to manufacturing.

The project’s economics are additionally enhancing nearly day by day as rare earth costs surge. Even in softer commodity markets, the operation’s shallow open-pit design ought to keep prices razor-thin and profitable.

The project’s momentum can be being fuelled by distinctive native and national assist. A 2024 memorandum of understanding with Poços de Caldas, which secured infrastructure and licensing help, was complemented by a land use certificates in January this yr. The municipality additionally donated industrial land, unanimously authorised by town council, reflecting the neighborhood’s robust backing.

Two of Brazil’s premier development banks handpicked Viridis and its Viridion JV, by way of a joint assist plan, having recognised the mammoth position Colossus might play in building a home rare earths provide chain.

Strategic partnerships with Brazilian asset managers ORE Investments and Régia Capital additionally bolster the project’s financial basis.

The acquisition of the new ground, structured with a US$3 million (A$4.6 million) fee over three years from 2026 and 5 million shares beneath escrow, helps align vendor and Viridiss’ shareholders’ pursuits.

Viridis’s concentrate on environmental allowing, a blended rare earth carbonate plant and a definitive feasibility research underscore its dedication to sustainable growth.

The company’s Colossus project, which spans more than 235 sq. kilometres, represents a probably transformative endeavour with the potential to reshape the worldwide rare earth panorama.

Backed by Poços de Caldas’s assist and the nation’s strategic imaginative and prescient, Viridis seems set to ship a sustainable, world-class asset that would drive financial prosperity and innovation for generations.

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