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Viridis advances Colossus rare earth project in Brazil
Viridis Mining and Minerals is advancing its Colossus rare earth project in Poços de Caldas, Brazil, through significant new financing and equipment procurement. The Brazilian Development Bank (BNDES) has approved R$ 77.5 million in funding via the BNDES Mais Inovação program to support the establishment of a Rare Earth Research and Processing Center (CPTR). This center will serve as a pilot stage for the project, focusing on the production of mixed rare earth carbonates and the optimization of processing routes for local ionic clays.
In parallel, Viridis has placed its first major equipment order for the project, contracting Italian manufacturer Dewater Filter Press Srl to supply a residue pressure filtration package. This long-lead item is critical to the project’s processing flowsheet and environmental rehabilitation strategy. The procurement aims to align with the planned construction sequence for the 5 million-tonne-per-annum facility.
The Colossus project is positioned as a strategic asset for the global energy transition. Construction of the industrial plant is expected to begin in the first quarter of 2027, with operations slated to commence by the end of 2028.
Entities
BNDES · Colossus Project · Dewater Filter Press Srl · Finep · Poços de Caldas · Viridis Mineração · Viridis Mining and Minerals
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Industrial plant implementation is expected to begin in the first quarter of 2027. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br
- [● 3 SOURCES] The CPTR is the first stage of the Colossus Project. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br
- [● 3 SOURCES] The financing has a 16-year term with an indicative cost of approximately 4.8% per year. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br
- [● 3 SOURCES] Operations are expected to start at the end of 2028. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br
- [● 3 SOURCES] The project was selected through a public call by BNDES and Finep. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br
- [● 3 SOURCES] The funds will be used to implement a Rare Earth Research and Processing Center (CPTR) in Poços de Caldas. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br
- [● 2 SOURCES] The company has already raised US$ 154 million in equity. www.dgabc.com.br · www.infomoney.com.br
- [● 3 SOURCES] BNDES approved R$ 77.5 million in financing for Viridis Mineração. www.dgabc.com.br · revistamineracao.com.br · www.infomoney.com.br