Viridis hatches plan for US refinery of Brazilian rare earths product

West Australian

a day ago

Viridis Mining & Minerals has unveiled its bold new plans to explore a United States-based rare earth refinery solution through its joint venture entity Viridion, capitalising on surging Western demand for critical minerals amid China's tightening rare earths monopoly.
The company is now eyeing North America to cement its role as a cornerstone in a vertically integrated, ex-China rare earth supply chain. The move comes as the US ramps up its efforts to secure sustainable sources of magnet rare earth oxides (REO) vital for electric vehicles, defence systems and renewable energy technologies.
Viridion is a 50:50 partnership with ASX-listed technology leader Ionic Rare Earths. Through Ionic, Viridis is updating a scoping study to assess the feasibility of producing a US mixed rare earth carbonate (MREC) from its flagship Colossus project in Minas Gerais, Brazil.
The study, set for completion in the second half of this year, will build on Ionic's blueprint for a Tennessee-based facility capable of producing 4000 tonnes per annum of separated magnet REO, including dysprosium and terbium, which are also ensnared in China's export restrictions.
Viridis' renowned premium MREC product already looks to be an industry leader, thanks to negligible impurities and cheap processing. Its robust economics, even in a low-price environment, make it an attractive feedstock for global refineries and could help meet the US's urgent need for traceable, high-purity materials.
The US refinery scoping study will evaluate a pilot-scale facility, with discussions already advanced for a Brazilian site to validate processing methodologies. The proposed Tennessee plant, strategically located near potential US partners, would leverage Ionic Technologies' proprietary separation processes, for which Viridion holds exclusive global rights outside Asia and Uganda.
Viridion has had its foot to the floor recently, with the joint venture last month delivering high-purity neodymium, praseodymium, dysprosium and terbium oxide from recycled magnets, utilising Ionic's cutting-edge hydrometallurgical technology. Last week, the company secured a slice of the Brazilian Government's US$1.4 billion (A$2.15B) strategic minerals program. The funding has turbocharged plans for its local refining and recycling assets, setting the stage for Viridis to export its proven technology to a potential US facility.
Viridis maintains its focus remains with the Colossus project in Brazil, where a pre-feasibility study with engineering firm Hatch is on track for completion within the month. A February scoping study at the project forecast a staggering US$2.28B (A$3.6B) in EBITDA over a 20-year mine life, driven primarily by the all-important magnet rare earths neodymium and praseodymium.
The project's ultra-low operating costs of US$6 a kilogram (A$9.2/kg) total rare earth oxides and high-grade heavy rare earths – estimated at 146 to 156 tonnes per annum of dysprosium and terbium in the first decade - place it in the lowest quartile of rare earth production globally.
The company is engaged in advanced offtake and financing talks with strategic partners, following a successful environmental impact assessment submission in January.
As global supply chains grapple with geopolitical risks, Viridis and by extension Viridion are emerging as front-runners in the race to secure critical minerals. Their US ambitions, now backed by Brazilian government support and Ionic's proven technology, position Viridion to bridge the gap between Western demand and non-Chinese supply.
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