Viridis Mining eyes strategic offtake partner for Brazilian rare earths

Viridis Mining and Minerals’ 5000-square-metre demonstration plant (pictured) in Brazil has produced its first mixed rare earth carbonate, underpinning a new strategic partnership with Solvay to advance commercial supply from Colossus.

Viridis Mining and Minerals (ASX: VMM) has put wings under its giant Colossus rare earth project in Brazil after inking a strategic non-binding partnership with global rare earths separation leader Solvay, which, if consummated, would support the company’s future product supply and its technical development.

The letter of intent sets out the key commercial and technical principles for a broader deal covering Viridis’ proposed supply of mixed rare earth carbonate (MREC) from Colossus, alongside Solvay’s processing technology and rare earth separation expertise.

Notably, the partnership will provide both companies with a structured pathway to commercial production of mixed rare earth carbonate from Brazil by 2028.

The deal comes just a week after Viridis produced its first batch of mixed rare earth carbonate from its demonstration plant at Poços de Caldas, a milestone that helped validate its Colossus flowsheet and opened the door to sending samples to potential offtake groups.

The plant is one of the largest known semi-industrial ionic clay rare earth processing plants outside China and has become central to fine-tuning processes, the definitive feasibility study, and long-lead equipment assessment.Combined, the first product milestone and the Solvay tie-up show that Viridis is moving beyond proof of concept and into commercial positioning.

Solvay also brings more than a century of operating experience in Brazil through its sprawling Paulínia industrial complex, handing Viridis a valuable shortcut to established supply chains, processing know-how and regulatory expertise as it pushes towards development.

This proposed partnership with Solvay represents a major strategic milestone for Viridis and the culmination of more than 18 months of engagement between the parties. Following an extensive due diligence process, Solvay selected Viridis as a strategic feedstock partner, providing strong third-party validation of the quality and strategic importance of the Colossus project.   Viridis Mining and Minerals Managing Director Rafael Moreno

The proposed deal could improve some of the key assumptions used in the project's pre-feasibility study, helping strengthen Viridis' funding strategy as it works towards a final investment decision later this year.

Solvay’s existing downstream relationships across the magnet and metallisation markets also help position Colossus within a wider Western-aligned rare earths supply chain focused on diversification and security of supply.

With its first MREC product in hand and a heavyweight downstream partner waiting in the wings, Viridis appears to have taken a timely and well-placed next step to turning its Colossus project into a fully integrated Brazilian rare earths story.

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