Viridis Doubles Brazil Rare Earths Estimate, Extending Colossus Mine Life

Viridis Mining and Minerals

Viridis doubles Brazil rare earths estimate to 200mn tonnes at the Colossus Project. Viridis doubles Brazil rare earths estimate by converting measured and indicated resources. Therefore, Viridis doubles Brazil rare earths estimate and signals a potential 40-year operating horizon. The ionic adsorption clay deposit in Minas Gerais averages 2,640ppm TREO with 740ppm MREO. The mine plan prioritizes NdPr, dysprosium, and terbium to maximize basket value.

Reserve scale, grade mix, and pricing assumptions

Viridis increased reserves to 200mn tonnes, up from 98.5mn tonnes. The company derived the upgrade exclusively from higher-confidence categories. As a result, execution risk moderates ahead of financing. The deposit’s 2,640ppm TREO includes 740ppm magnetic oxides. Meanwhile, pricing assumptions anchor economics at $90/kg NdPr. Dysprosium uses $269/kg, and terbium uses $888/kg. These markers frame sensitivity for basket value and payback.

Throughput, carbonate output, and offtake progress

The Colossus Project targets 5mnt per year of ore. Management expects 10,000–12,000t per year of mixed rare earth carbonate. Consequently, scale supports multi-year offtake programs. Viridis advances discussions on offtake with strategic buyers. Therefore, downstream partners can align on NdPr and heavy magnet needs. The firm continues technical work toward a final investment decision.

The Metalnomist Commentary

Ionic clay deposits can deliver low-acid, short-cycle production, yet metallurgy matters. Pay close attention to impurity control, reagent recycling, and heavy rare earth recoveries. Offtake structure and processing route selection will define long-term margins.