Viridis JV to build Latin America’s first rare | Australian Markets

Viridis Mining and Minerals Limited, by means of its three way partnership with ASX-listed Ionic Rare Earths, has secured 2071 sq. metres of industrial land within the Brazilian metropolis of Poços de Caldas to build a centre for rare earths innovation, technology and recycling.

The centre, unanimously authorized by the native metropolis council and endorsed by its mayor, can be Latin America’s first rare earths refining and recycling hub. It is set to start operations in late 2026 and can benefit from strong native infrastructure and Viridis’ close by Colossus northern rare earth concessions.

The facility will course of blended rare earth carbonates (MREC) from the Colossus demonstration plant and recycled neodymium-iron-boron magnets from Brazil’s industrial and digital waste streams, together with by way of partnerships with native recyclers.

Neodymium-iron-boron magnets are significantly precious in conditions requiring highly effective, compact magnets and are broadly utilized in electric motors, wind generators, onerous drives and medical gadgets.

The project aligns with Brazil’s national strategy for essential minerals and clean power. Viridis will search funding help from a R$5 billion (A$1.34 billion) joint initiative between the Brazilian Development Bank and the nation’s Financier of Studies and Projects.

The funding program goals to foster strategic mineral tasks, promote analysis, development and innovation, and strengthen provide chains for essential minerals. It primarily helps tasks associated to rare earths, lithium, and different supplies essential for power transition and decarbonisation.

Using Ionic Rare Earths’ patented solvent extraction technology, confirmed at Ionic Technologies’ Belfast facility, the new recycling centre will produce the rare earth oxides neodymium, praseodymium, dysprosium and terbium at higher than or equal to 99.5 per cent purity.

From day one, we’ve recognised that robust alignment with native, state and federal stakeholders is crucial to advancing each the Colossus project and the broader Viridion strategy. Global developments, such because the current multi-billion-dollar partnership between MP Materials and the US Department of Defense, reinforce the significance of sovereign backing in bringing essential mineral tasks into manufacturing.

The JV centre will course of up to 30 tonnes each year of magnet and alloy feedstock by means of mechanical dismantling, acid digestion, selective leaching, solvent extraction and oxalate precipitation.

The processing flowsheet incorporates closed-loop water and reagent systems, guaranteeing minimal environmental influence and no radioactive residues.

By recycling magnets from wind generators, MRI machines and different end-of-life tools, Viridis goals to foster a round economic system, supplying oxides to Brazil’s sole magnet producer CIT SENAI ITR to bolster home manufacturing.

Under the phrases of the deal for its JV recycling centre, Viridis should invest R$51 million in two phases, keep operations for a decade, create native jobs and contribute R$100,000 (A$26,200) to municipal packages.

Civil works are slated for late 2025, with the launch of operations aimed for late 2026. Federal funding discussions are advancing, with a package deal anticipated quickly that can reinforce the centre’s function in Brazil’s industrialisation agenda.

Viridis can also be progressing its Colossus project, with environmental allowing on observe following its EIA/RIMA submission in January.

The company is in talks with strategic traders and off-take companions, touting the project’s low impurity magnetic rare earth concentrates and robust economics.

A definitive feasibility examine and metallurgical optimisation are underway to additional improve the already robust recoveries, whereas website choice for the Colossus demonstration plant nears completion.

The pre-feasibility examine for Colossus, launched to market earlier this month, highlights strong economics over a 20-year mine life, with a pre-tax internet current worth of US$1.41 billion (A$2.14 billion) at a base case US$90/kg neodymium-praseodymium price, or US$773 million (A$1.17 billion) at a spot price of US$63 per kilogram.

Annual working money move averages US$128 million (A$194 million) at spot pricing, rising to US$197 million (A$298 million) utilizing base case forecasts.

As South America’s first rare earth project to ship a pre-feasibility examine, Colossus is a financially compelling and strategically important development.

On high of that, Viridion’s new recycling centre will place Brazil as a chief in sustainable rare earth manufacturing, aligning with world power transition objectives.

By integrating superior refining, recycling and a round economic system model, Viridis is driving technological innovation and financial growth within the Poços de Caldas area and cementing its function in Brazil’s inexperienced industrial future