Viridis Mining Secures Strategic Brazilian Funding for Colossus Project

Viridis Mining and Minerals Ltd (ASX: VMM), along with its joint venture Viridion Pty Ltd, has been selected by Brazil’s BNDES and FINEP to receive substantial financial support from a US$903 million fund aimed at accelerating strategic mineral production. The funding will advance Viridis’ flagship Colossus Project—focused on rare earth elements—and its downstream refining and recycling capabilities. The financial package will support pilot and commercial plant construction, R&D, engineering studies, and equipment acquisition. This recognition reflects the maturity and commercial viability of the Colossus Project, particularly amid global supply chain disruptions from China. Viridis also delivered high-purity rare earth oxides using IXR's technology to Latin America’s only magnet manufacturer, underscoring its strategic significance. With a pre-feasibility study near completion and environmental licensing underway, the company is progressing toward becoming the first fully integrated rare earths supplier outside China

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