Viridis Advances Colossus Project with Key Development Milestones
Viridis Mining and Minerals Limited (ASX: VMM) reported strong progress during the quarter ended 30 June 2026, with significant advancements at its Colossus Rare Earth Project in Brazil. The company submitted its Installation Licence application, a critical step toward construction and the planned Final Investment Decision (FID). It also produced its first Mixed Rare Earth Carbonate (MREC) from its demonstration plant, validating its processing technology ahead of commercial development. In addition, Viridis signed a non-binding Letter of Intent with Solvay to support future product offtake and technical collaboration while continuing work on its Definitive Feasibility Study.
The company further strengthened project readiness by securing dedicated power infrastructure, expanding resource confidence through drilling, and progressing financing initiatives. Viridis reported a pro forma funding position of approximately AU$56 million, supporting development through FID and early execution activities. International engagement, including visits from European Union representatives and participation in strategic critical minerals forums, highlighted growing recognition of the Colossus Project as a potential contributor to diversified global rare earth supply chains.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Viridis Advances Colossus Project with Key Development Milestones
Viridis Mining and Minerals Limited (ASX: VMM) reported strong progress during the quarter ended 30 June 2026, with significant advancements at its Colossus Rare Earth Project in Brazil. The company submitted its Installation Licence application, a critical step toward construction and the planned Final Investment Decision (FID). It also produced its first Mixed Rare Earth Carbonate (MREC) from its demonstration plant, validating its processing technology ahead of commercial development. In addition, Viridis signed a non-binding Letter of Intent with Solvay to support future product offtake and technical collaboration while continuing work on its Definitive Feasibility Study.
The company further strengthened project readiness by securing dedicated power infrastructure, expanding resource confidence through drilling, and progressing financing initiatives. Viridis reported a pro forma funding position of approximately AU$56 million, supporting development through FID and early execution activities. International engagement, including visits from European Union representatives and participation in strategic critical minerals forums, highlighted growing recognition of the Colossus Project as a potential contributor to diversified global rare earth supply chains.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au