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Colossus rare earths project, Brazil

31st October 2025

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Colossus rare earths project.

Location
Poços de Caldas, Brazil.

Project Owner/s
Resource exploration and development company Virdis Mining & Minerals.

Project Description
A prefeasibility study (PFS) has outlined a technically robust, low-risk development pathway for one of the most compelling rare earth projects currently in the world. The PFS mine plan is conservatively based on just 20% of the total resource and limited to two project areas. The study outlines a well-engineered mining and processing operation designed for five-million tonnes a year of rare-earth ionic clay, supporting long-term scalability.

The expected average production over the current 20-year life-of-mine (LoM) is estimated at 9 500 t/y of total rare-earth oxide (TREO) and 3 500 t/y of magnetic rare-earth oxide, with a high-value mix comprising 36% neodymium/praseodymium oxides and 2% dysprosium/terbium oxides.

Total LoM production is estimated at 188 954 t TREO and 70 364 t.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PFS estimates a pretax net present value, at an 8% discount rate, of about $1.41-billion, based on a conservative long-term average forecast price assumption of $90/kg neodymium/praseodymium for its base case. The project has a pretax internal rate of return of 43%. Payback is estimated at two years.

Capital Expenditure
Capital expenditure, including contingency, is estimated at $358-million.

Planned Start/End Date
Production is targeted for 2028, with a clear timeline towards construction and commissioning.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Hatch (PFS).

Contact Details for Project Information
Virdis Mining & Minerals, tel + 61 3 9071 1847 or email info@viridismining.com.au.
 

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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