Viridis lands EU endorsement for Brazilian rare earths giant

Viridis Mining and Minerals’ aptly named Colossus rare earths project in Brazil has landed on the radar of Europe’s critical minerals powerbrokers after hosting European Union Commissioner for International Partnerships Jozef Síkela during an official EU mission to the country.

The recent visit formed part of the EU delegation’s trip to Brazil ahead of an EU-Brazil Investment Forum in Brasília. It gave Viridis a chance to put Colossus in front of one of Europe’s most influential policymakers on international investment, strategic partnerships and critical raw materials.

Commissioner Síkela was joined by members of his cabinet, senior European Commission officials, European Investment Bank representatives and the EU Delegation to Brazil.

The group toured Viridis’ newly commissioned demonstration plant at the company’s rare earths research and processing centre in Poços de Caldas and was briefed on Colossus’ potential role in diversified rare earths supply chains.

Viridis says the discussions centred on building secure and resilient critical minerals links between Brazil and Europe, including how its proposed offtake and technical partnership with global rare earth separation group Solvay could help support rare earths industrialisation in Brazil.

The company also says the visit opened the door to further talks on potential support mechanisms to improve investment certainty, strengthen supply chains and accelerate project delivery.

Those talks form part of a broader engagement with European stakeholders as the EU looks to reduce reliance on concentrated sources of critical mineral production

We were honoured to host Commissioner Síkela and senior representatives from across the European Union institutions at the Colossus Project. The visit builds on the strong and constructive relationship Viridis has developed with European stakeholders through ongoing engagement over recent years.

The latest milestone follows a busy few weeks for Viridis. Earlier this month, the company signed a non-binding letter of intent with Solvay covering a proposed mixed rare earths carbonate supply from Colossus and a broader technical package.

It also recently locked in a binding agreement for dedicated power transmission infrastructure to connect Colossus to Brazil’s electricity grid, with reserved capacity due from December next year to support first production targeted for the first half of 2028.

Viridis is pushing Colossus towards a final investment decision in the second half of this year and says the project is well-placed to help feed Western-aligned rare earths supply chains for permanent magnets, advanced manufacturing and electrification.

With Europe hunting for new sources of critical minerals and Brazil keen to build more of the value chain at home, Colossus has suddenly found itself in some serious international company.

If Viridis can keep checking off its development milestones, it is not hard to envisage how Colossus could become a key bridge between Brazilian rare earths and Europe’s clean-tech ambitions.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au