Viridis Mining and Minerals Limited Delivers First Local Rare Earth Oxides in Brazil Amid US$1.4B Funding Surge for Strategic Supply Chain Expansion
Tuesday, May 27, 2025
at
9:16 am
Viridis Mining and Minerals Limited has delivered high-purity rare earth oxides to Brazil’s sole magnet manufacturer. This milestone, achieved using recycled magnets, advances their plan for a fully integrated rare earth supply chain in Latin America, enhancing growth prospects amidst evolving global supply dynamics.
Viridis Mining and Minerals Limited has taken a significant leap toward establishing a fully integrated rare earth supply chain in Latin America, marked by the delivery of high-purity neodymium, praseodymium, dysprosium, and terbium oxides to Brazil’s sole magnet manufacturing facility. The delivery was executed through its joint venture with Ionic Rare Earths Limited, operating under the name Viridion Pty Ltd, and represents the first locally sourced range of recycled magnetic oxides in the region.
The oxides were derived from end-of-life magnets, primarily from decommissioned MRI machines and wind turbine generators. These magnets underwent initial pre-processing in Brazil before being shipped to a facility in Belfast, where advanced hydrometallurgical separation produced high-purity individual oxides. These materials have now been delivered to CIT SENAI ITR, where lab-scale experiments will begin to assess their potential for conversion into alloys and subsequent magnet production that meets high performance standards.
This development is closely aligned with a broader strategic vision to create a circular, “mine to magnet” supply chain. Viridis, in collaboration with key regional partners including CIT SENAI, FIEMG, and Invest Minas, is well positioned to benefit from substantial funding initiatives introduced by Brazil’s Development Bank and FINEP. These initiatives, comprising public calls with a combined allocation of nearly R$8 billion, aim at transforming strategic minerals and enhancing domestic capabilities in advanced manufacturing and clean energy technologies. Early test results from the Colossus Project demonstrate high recovery rates (in the mid-70 percent range) using a simple leaching process, underpinning the strong economic model of the venture.
Looking ahead, Viridis is advancing several key initiatives. The company is working on a detailed pre-feasibility study expected to complete by the end of Q2 2025 and has initiated preparations to secure the necessary Environmental Installation License ahead of construction. Robust project financing and offtake discussions are in progress, reinforcing its competitive positioning as one of the lowest-cost rare earth producers globally, even at currently low commodity prices.
Bullish sentiment is supported by the breakthrough in local rare earth oxide production, which could supply up to 7% of global demand, and the forward-looking potential that government funding and strong project economics offer. The integration of proven recycling technology and strategic partnerships further reinforces the possibility of reshaping the regional rare earth industry in the face of global supply chain disruptions. Conversely, the bearish perspective centers on the inherent risks in scaling new technologies and navigating complex regulatory approvals, along with reliance on forward-looking statements that depend on the successful completion of pre-feasibility and environmental licensing processes.