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| Viridis Colossus rare earth project |
Australian Funding Boosts Colossus Development
Export Finance Australia plans a $50mn debt facility to support Viridis’ Colossus rare earth project in Brazil.
However, funding is conditional on due diligence, approvals, and the use of Australian goods and services.
Meanwhile, French, Canadian, and Brazilian state-owned investors have also committed partial financial support for the project.
Rare Earth Mining and Refining Plans
Viridis will mine neodymium, praseodymium, dysprosium, and terbium using ionic clay deposits at Colossus.
The company increased its estimated ore reserves from 98.5mn t to 200mn t in August 2025, signaling strong project potential.
As a result, Viridis plans a Brazilian rare earth refinery and magnet recycling facility with Ionic Rare Earths.
Viridis targets a final investment decision between July and December 2026, advancing strategic REE supply chains.
This integrated mining and refining approach strengthens regional rare earth independence and circular economy capabilities.
Investors should monitor regulatory approvals and funding finalization, as these will directly influence project execution timelines.
ScrapInsight Commentary
Australian support validates Colossus’ strategic importance in global rare earth supply chains.
The project’s integrated mining, refining, and recycling plan enhances recycled rare earth availability.
Successful execution could reduce dependency on Asian REE imports while advancing sustainable circular economy initiatives.
