Ionic Rare Earths Limited announced a significant development in Brazil through its 50/50 joint venture with Viridis Mining and Minerals Ltd. The company’s Brazilian partner, Viridion, has been granted 2,071 square metres of land in Poços de Caldas, Minas Gerais by the local municipality. This land will host the Centre for Rare Earths Innovation, Technology and Recycling (CRITR), a pioneering facility set to become South America’s first demonstration-scale rare earth refining and recycling hub. The CRITR facility will process Mixed Rare Earth Carbonate derived from the Colossus Project and recycled NdFeB magnets sourced from industrial and electronic waste. Designed to target high-purity rare earth oxides—specifically neodymium, praseodymium, dysprosium, and terbium—with purity levels of at least 99.5%, the plant boasts a processing capacity of up to 30 tonnes per annum. With an investment of approximately R$51 million scheduled over two development phases, advanced recycling technologies based on Ionic Rare Earths Limited’s proven methods will be deployed, mirroring successful processes established at its Belfast facility. The project has garnered unanimous support from local government authorities, reinforcing its strategic significance under Brazil’s “New Industry Brazil” policy. Civil works are expected to commence at the end of 2025 with operations targeted for the second half of 2026, subject to the securing of final financing and regulatory approvals. The initiative aligns with a broader federal funding program directed at critical mineral projects in Brazil, positioning the company to enhance national technological and industrial capabilities. Market sentiment appears bullish as government endorsement, robust local infrastructure, and significant funding opportunities underscore the potential for a sustainable rare earth supply chain critical to advanced manufacturing and renewable energy sectors. However, some bearish aspects remain, primarily the reliance on finalising funding arrangements and meeting regulatory milestones, which could delay project timelines. Overall, the strategic move reinforces Ionic Rare Earths Limited’s commitment to establishing secure, low-capex, and environmentally responsible rare earth processing capabilities on a global scale.