Viridis Mining and Minerals, through its Brazilian JV Viridion, has secured municipal land in Poços de Caldas to build Latin America’s first rare earth refining and recycling centre, backed by strong government support and aligned with Brazil’s critical minerals strategy.
- Land granted by Poços de Caldas municipality for rare earth hub
- CRITR to be Latin America’s first demonstration-scale refining and recycling plant
- Facility will process mixed rare earth carbonate and recycled magnets
- Strong local and federal government backing including potential R$5 billion funding
- Operations targeted to commence in second half of 2026
Strategic Land Acquisition Accelerates Rare Earth Ambitions
Viridis Mining and Minerals Limited has taken a significant step forward in establishing Latin America’s first rare earth refining and recycling hub through its Brazilian joint venture, Viridion Rare Earth Technologies Ltda. The Municipality of Poços de Caldas in Minas Gerais has officially granted Viridion a 2,071 square metre industrial land parcel within its Industrial District. This site will host the Centre for Rare Earths Innovation, Technology and Recycling (CRITR), a pioneering facility designed to refine and recycle rare earth elements critical to the global energy transition.
The unanimous approval by the Poços de Caldas City Council and endorsement by the Mayor underscore the project’s strategic importance to the region and Brazil’s national agenda for critical mineral sovereignty. Scheduled to begin operations in the latter half of 2026, CRITR will be the first of its kind in South America, marking a milestone in the continent’s industrial development.
Innovative Technology Meets Circular Economy
CRITR will process mixed rare earth carbonate (MREC) sourced from Viridis’ Colossus Project demonstration plant alongside recycled neodymium-iron-boron (NdFeB) magnets collected from Brazil’s industrial and electronic waste streams. Utilizing advanced solvent extraction and hydrometallurgical technologies developed by Ionic Rare Earths’ UK subsidiary, the facility aims to produce high-purity rare earth oxides such as neodymium, praseodymium, dysprosium, and terbium with purity levels exceeding 99.5%.
The project embraces a circular economy model, recovering critical elements from end-of-life magnets sourced from wind turbines, MRI machines, and hard drives, thereby reducing reliance on imported raw materials and supporting Brazil’s green industrial future. Sustainability is embedded in the design, featuring closed-loop water and reagent systems and low-impact refining processes that avoid radioactive residues or tailings dams.
Robust Government Support and Funding Prospects
Viridion’s CRITR project aligns closely with Brazil’s Neo-industrialization Agenda and has been selected for potential funding under a landmark R$5 billion federal program led by the Brazilian National Bank for Economic and Social Development (BNDES) and the innovation agency FINEP. This program aims to accelerate critical mineral projects and downstream refining infrastructure, reflecting the government’s commitment to technological sovereignty and sustainable industrial growth.
The company is actively negotiating the funding package, expected to be finalised soon, which will support the construction and operation of the CRITR facility as well as the development of a Brazil-based technical and engineering team. The land grant, valued at approximately R$1.04 million, comes with binding commitments to maintain continuous operations for at least ten years, generate local employment, and contribute to municipal programs.
Advancing the Colossus Project and Broader Strategy
Alongside the CRITR development, Viridis is progressing key initiatives for its Colossus Project, including environmental permitting, project financing, and metallurgical optimisation. The recent release of a pre-feasibility study has de-risked capital and operating cost assumptions, bolstering investor confidence and intensifying offtake discussions. The company is also evaluating options for housing the Colossus MREC demonstration plant, a critical feedstock source for CRITR.
Viridis’ integrated approach, combining a world-class ionic clay resource with cutting-edge refining and recycling technologies, positions it at the forefront of Brazil’s emerging rare earth sector. This initiative not only promises to unlock long-term shareholder value but also supports Brazil’s ambitions for clean energy, industrial innovation, and decarbonisation.
Bottom Line?
With land secured and government backing solidified, Viridis is poised to pioneer Latin America’s rare earth refining future, next steps hinge on finalising federal funding and advancing permitting.
Questions in the middle?
- What are the final terms and timeline for the federal funding package supporting CRITR?
- How will Viridis manage supply chain risks amid global rare earth market volatility?
- What partnerships or offtake agreements will Viridis secure to commercialise CRITR’s output?