Viridis Mining & Minerals has recently announced the impressive results from their Colossus project, which consists of four concessions in Brazil. CEO Rafael Moreno expressed excitement over the project’s potential, stating that Colossus is on track to become a global leader in the recovery of rare earth elements such as neodymium, praseodymium, dysprosium, and terbium.
The company’s northern concessions have been particularly successful, boasting the highest grades of heavy rare earths at the surface in the Poços De Caldas alkaline complex. Combined with exceptional Dy and Tb ionic recoveries, these concessions are a key component in Viridis’ strategic positioning in the rare earths market.
With rare earths in high demand for use in various technologies, including cell phones, computers, and green energy solutions, Western countries are increasingly seeking alternative supply chains outside of China. Viridis’ success in achieving high recovery rates for neodymium, praseodymium, dysprosium, and terbium is likely to attract further attention and investment in the company.
Following the announcement of the impressive results, shares of Viridis rose by 4.63%, signaling positive investor sentiment towards the company’s prospects. With a market capitalization of A$75.4 million, Viridis is poised for continued growth and success in the rare earths sector. As the second producing rare earths mine in the Americas, Colossus is positioned to make a significant impact on the global rare earths market.
