Viridis Advances Rare Earth Refinery Plans with Brazilian Feedstock and U.S. Expansion

Strategic Expansion Beyond Borders

Viridis Mining and Minerals Limited (ASX, VMM) has announced a significant step in its rare earths strategy, targeting the establishment of a rare earth refinery in the United States. This move builds on the company’s existing refining and recycling capabilities in Brazil through its Viridion joint venture with Ionic Rare Earths Ltd (ASX, IXR). The planned U.S. facility aims to process Mixed Rare Earth Carbonate (MREC) sourced from Viridis’ flagship Colossus Project in Brazil, marking a bold effort to create a sovereign, integrated supply chain outside China’s dominant influence.

Viridion’s expansion responds to increasing U.S. demand for secure, traceable rare earth oxides (REOs), critical for sectors such as automotive, defense, and renewable energy. By leveraging Ionic Technologies’ proprietary separation technology, the joint venture is positioned to fast-track development and meet strategic stakeholder expectations on both continents.

Robust Feedstock and Government Support

The Colossus Project’s MREC feedstock is highlighted for its premium-grade quality, with negligible impurities and radionuclides, offering robust economics even amid volatile market conditions. This positions Viridis uniquely among Western rare earth developers, capable of delivering strong returns in the current pricing environment.

Backing from the Brazilian government through a US$1.4 billion Strategic Minerals Program, administered by BNDES and FINEP, has bolstered Viridion’s standing and accelerated progress toward constructing local refining and recycling assets. This support not only validates the project’s strategic importance but also lays the groundwork for exporting proven refining technology to the U.S.

Refining Technology and Scoping Study Update

An existing scoping study, initially prepared by Ionic Rare Earths for a Tennessee-based refinery, is being updated to incorporate the Colossus MREC feedstock and assess higher-value rare earth elements. The updated study, expected by the second half of 2025, will underpin plans for a pilot-scale refining facility and support ongoing engagement with U.S. strategic partners.

Viridion’s exclusive global rights (excluding Asia and Uganda) to Ionic Technologies’ intellectual property for MREC refining and magnet recycling provide a technological edge. The joint venture’s recent milestone of delivering Brazil’s first recycled magnet REOs underscores its capability to lead in sustainable rare earth processing.

Next Steps and Market Implications

Viridis is concurrently advancing its Colossus Project pre-feasibility study, environmental licensing, and discussions with potential offtake partners and financiers. These efforts aim to de-risk the project and secure the necessary capital and partnerships to realize its downstream ambitions.

As geopolitical tensions and supply chain disruptions continue to pressure rare earth markets, Viridis’ strategy to build a resilient, vertically integrated supply chain spanning Brazil and North America could position it as a pivotal player in the global rare earths landscape.