Viridis unveils 40-year mine reserve at giant | Australian Markets

Viridis Mining & Minerals has unleashed a milestone 200-million-tonne maiden ore reserve for its flagship Colossus project in Brazil, locking in a 40-year mine life at a titillating 740 components per million (ppm) of the all-important magnetic uncommon earth oxides (MREO).

The broader reserves clock in at 2640ppm whole uncommon earth oxides (TREO).

With a lean 0.45:1 strip ratio and a strong 61 per cent resource-to-reserve conversion, the maiden reserve locks in Colossus as a tier-one ionic clay uncommon earth project prepared for mining.

The reserves draw from the project’s Northern Concessions, Southern Complex and Capão da Onça deposits, which have been transformed from a measured and indicated useful resource base of 329Mt grading 2680ppm TREO.

The company says it faucets into simply 12 per cent of Viridis’ sprawling 21,000-hectare landholding in Brazil’s Poços de Caldas complicated, leaving high-grade zones reminiscent of its Tamoyo and the Southern Concessions prospects untouched for important upside and future growth.

The reserve feeds into Viridis’ latest blockbuster prefeasibility examine for Colossus, which pegged the project at a pre-tax web current worth of US$1.41 billion (A$2.14 billion), with a lowest-in-class working value of simply US$6.20 per kilogram TREO.

The pre-feasibility examine was performed at a extremely conservative uncommon earths pricing and envisioned a 20-year mine life for the project primarily based on 98.5Mt at 936ppm MREO, which has now been considerably expanded by the latest 200.6Mt at 740ppm reserve.

The project now stretches that horizon to some 40 years of mining at the identical 5Mtpa manufacturing price. The project is set to churn out a appreciable 9448t of TREO, together with 3518t of MREO, so as to add a important provide stream to the worldwide uncommon earths panorama.

The economics are bettering day by day as uncommon earth costs surge. Even in softer commodity markets, with a base-case neodymium-praseodymium price of US$90/kg, the shallow open-pit design retains prices razor-thin and profitable at the possibly world-class operation.

The declaration of our maiden JORC reserve marks one other important milestone for Viridis. To ship 201Mt at an excellent 740ppm MREO underscores each the dimensions and distinctive high quality of Colossus. Importantly, this reserve covers solely a fraction of our landholding, with high-grade zones like Tamoyo but to be included, underscoring Colossus’ immense growth potential and strategic significance as a globally vital source of magnet uncommon earths.

The Colossus project impressively options unrivalled entry to a 100 per cent hydro and solar-powered grid and proximal infrastructure in Poços de Caldas. The project’s value benefits and its international strategic significance are close to unrivalled within the uncommon earths space.

As geopolitical tensions highlight the need for non-Chinese uncommon earths, the project is rapidly rising as a potential cornerstone for Western provide chains. Its deal with magnet uncommon earths – neodymium, praseodymium, dysprosium and terbium – positions it to satisfy surging demand for electrification and decarbonisation.

The United States Department of Defence’s latest deal with California-based MP Materials included an spectacular US$110/kg neodymium-praseodymium price ground for its uncommon earth product. It underscores the strategic urgency of securing a vertically built-in Western provide, with Viridis’ low-cost, high-grade profile making it a prime goal.

Viridis is gearing up for a catalyst-rich financial 12 months forward, with environmental allowing, a MREC demonstration plant, definitive feasibility examine and offtake negotiations all within the wind.

Bolstered by a latest $11.5 million placement, the company’s unmatched ionic clay economics place it to trip the latest wave of vital minerals demand. The company’s share price has already quadrupled previously three months because the no-longer junior explorer begins to throw its identify up with the massive boys of the uncommon earths space.

With Brazilian authorities help secured, Viridis appears comfortably positioned with Moreno at the helm to money in on the surging demand for magnet uncommon earths.

Viridis will now transfer on to its vital definitive feasibility examine and ultimate investment resolution phases, the place execution turns into paramount. The company says its focused metallurgical check program to reinforce recoveries will underpin the definitive feasibility examine, which it is going to no doubt speed up to strike whereas the iron is scorching.

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