Interview with Rafael Moreno, Managing Director & CEO of Viridis Mining & Minerals

Recording date: 2nd Sept 2025

Viridis Mining & Minerals (ASX:VMM) is advancing the Colossus ionic clay rare earth project in Brazil’s Minas Gerais state, focused on producing high-value rare earth elements neodymium, praseodymium, dysprosium, and terbium (NdPr-DyTb) with very low radioactive content. The project benefits from simple free-dig mining of shallow deposits and straightforward atmospheric-pressure processing, enabled by a unique ionic clay geological formation. These factors contribute to superior economics, with a pre-feasibility study (PFS) estimating a net present value (NPV) of US$1.41 billion and annual operating cash flow around US$200 million at current rare earth prices.

Colossus’s grades are 4 to 6 times higher than comparable Chinese projects, supporting competitive costs even at lower commodity prices. Regulatory advantages include a radiological exemption from Brazil’s nuclear regulator, which keeps environmental approvals at the state level rather than federal, accelerating permitting timelines from years to weeks. The project also features strong environmental credentials, with 100% renewable power, 75% water recycling, and immediate site rehabilitation.

Financing momentum is strong, with up to US$30 million committed from leading Brazilian asset managers and ongoing discussions with Brazil’s development bank BNDES. Offtake talks span Brazil, Europe, and North America, positioning Colossus as a globally relevant supply source. Near-term milestones include imminent environmental approval, a demonstration plant operational by Q1 2026, mineral resource updates by mid-2026, and a definitive feasibility study (DFS) by June 2026.

Led by CEO Rafael Moreno, with deep project execution experience, Viridis is developing Colossus to meet growing global demand driven by electric vehicles, renewable energy, and supply chain diversification concerns. The project’s combination of high-grade ore, regulatory fast-tracking, operational simplicity, and sustainable practices create a compelling investment thesis for establishing a non-Chinese rare earth supply focused on permanent magnets, with a potential 60-year mine life ensuring long-term value and market resilience.

View Viridis Mining & Minerals' company profile: https://www.cruxinvestor.com/companies/viridis-metals-mining

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