Australia backs Viridis Colossus rare earth project in Brazil

Australia backs Viridis Colossus rare earth project in Brazil

The Australian government plans to support Viridis’ Colossus rare earth project with a $50 million debt facility.
Export Finance Australia (EFA) issued a non-binding conditional letter of support on January 6.
Approval depends on due diligence, regulatory clearance, and sourcing some Australian goods and services.

Colossus will mine neodymium, praseodymium, dysprosium, and terbium using ionic clay deposits.
Viridis increased its estimated ore reserve from 98.5 million tonnes to 200 million tonnes in August 2025.
The company targets a final investment decision between July and December 2026.

Global backing strengthens the project’s financial foundation.
Export Development Canada and French funder Bpifrance showed interest in November 2025.
Brazilian state agencies, including BNDES, agreed to co-finance Colossus in mid-2025.

Viridis plans refinery and recycling to secure rare earth supply

Viridis intends to develop a rare earth refinery and magnet recycling plant in Brazil.
The refinery will process rare earth carbonates from the Colossus project.
Partnership with Australia’s Ionic Rare Earths ensures advanced processing and recycling capacity.

The project aims to secure a stable supply of critical materials for global EV and clean-tech markets.
By combining mining, refining, and recycling, Viridis strengthens its position in the rare earth value chain.
This integrated approach supports both economic and environmental objectives in the industry.

SuperMetalPrice Commentary:

Australia’s backing of Colossus signals rising strategic importance of rare earths in global supply chains.
Multi-country financing reduces geopolitical and financial risks for the project.
As global EV and renewable energy demand grows, integrated mining and recycling projects like Colossus gain strategic value.
Investors and policymakers should monitor how these projects shape regional and global rare earth availability.