The Australian mining company currently does not plan to work with Chinese partners and has also announced its first production of rare earth concentrate.
Viridis Mining and Minerals plans to sell output from its Colossus Project rare earth project in Brazil primarily to customers in the United States and Europe. The company is currently in discussions with potential buyers, CEO Rafael Moreno told Reuters. Despite strong interest from China, the company is not currently considering partnerships with Chinese counterparties.
Colossus is located in the Brazilian state of Minas Gerais and, according to Viridis, is expected to reach full production capacity by the end of 2028. Based on previous geological studies, the deposit is considered one of the world’s richest sources of rare earths hosted in ion-adsorption clays. Found mainly in tropical and subtropical regions, these deposits are the primary source of highly sought-after heavy rare earth elements such as Dysprosium and Terbium.
To date, such deposits have been commercially mined mainly in China and Myanmar, while nearly all downstream processing has occurred in China. Although Brazil is widely seen as a promising future producer due to its geology, refining capacity outside China remains limited. As a result, new processing facilities are being developed not only in Brazil but also in the United States and Europe. Viridis’ announcement should be viewed in that broader context.
Just days earlier, the company also announced the first production of mixed rare earth carbonate at its new demonstration plant in Poços de Caldas, in Minas Gerais. According to Viridis, the facility is among the largest of its kind outside China, dedicated to processing rare earths from ion-adsorption clays. Moreno said the milestone could also support the company’s ongoing offtake negotiations.
Late last year, Serra Verde, another Brazilian rare earth producer, also announced plans to primarily supply Western customers. The company said this strategy reflects expectations that suitable separation facilities will soon become available in those markets.
Photo: filipefrazao via Canva
