Viridis Mining and Minerals Limited has been selected by Brazil’s leading development institutions – the Brazilian National Bank for Economic and Social Development and the Federal Agency for Studies and Projects – to advance a Joint Support Plan under Brazil’s strategic minerals initiative. The company and its joint venture, Viridion Pty Ltd, submitted their proposal on 30 April 2025 and were officially chosen on 12 June 2025 to pursue significant funding opportunities. This support, part of a US$903 million funding package allocated within a BRL$5 billion strategic minerals pool, is aimed at fast-tracking the development of its Colossus Project along with integrated downstream refining and recycling operations. The funding package offers a mix of potential financial instruments, including credit lines, equity investment, and non-reimbursable resources. In addition to this, a separate allocation of BRL$3 billion from a second public call is available to propel technology development and innovation hubs. Viridis’ Colossus Project stands out due to its robust pre-feasibility study economics, proven downstream processing technology licensed from a joint venture partner, and its strong economic resilience across commodity cycles. The company’s recent milestones include the successful delivery of high-purity rare earth oxides to Latin America’s only magnet manufacturer, which further validates its commercial pathway. The announcement outlines several key initiatives in the coming months. Viridis is focused on advancing its environmental permitting process, which is critical to moving ahead toward production. The firm is also executing a multi-pronged financing strategy targeting strategic investors and government support from both domestic and international sources. Strategic partnerships and offtake engagements are intensifying, bolstered by its low-impurity mixed rare earth carbonate product and attractive project economics. Moreover, metallurgical testing and process technology optimization are underway to lay the groundwork for a Definitive Feasibility Study in the near term. The news presents a bullish sentiment as it underscores strong institutional support, validated project economics, promising technological integration, and positive early-stage financing engagements. Such elements indicate potential for accelerated production and a solid foothold in the emerging rare earths market, positioning Viridis as a key player in establishing a fully integrated rare earth supply chain outside of traditional markets. However, a cautious outlook remains given the inherent risks associated with regulatory permitting delays and the execution of complex financing strategies. The company’s ability to navigate these challenges will be crucial for realizing its ambitious growth targets amid a volatile global commodities landscape.