Breaking: Viridis Doubles Reserve Estimate for Brazil's Colossus Rare Earth Project to 200 Million MT

Published: Aug 22, 2025 15:40

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[Breaking News: Viridis Doubles Reserve Estimate for Brazil's Colossus Rare Earth Project] Australia-based rare earth developer Viridis Mining and Minerals announced that the reserves of its Colossus project in Brazil have been significantly increased to 200 million mt, doubling the previous estimate. This increase is mainly due to the re-evaluation of measured and indicated mineral resources, which is expected to extend the mine life of the Colossus project to 40 years.

The Colossus project, located in Minas Gerais, is an ion-adsorption clay deposit rich in rare earths. The average grade of rare earth oxides in the ore is as high as 2,640 ppm, with magnetic rare earth oxides accounting for 740 ppm, demonstrating extremely high mining value.

To maximize the project's value, Viridis plans to prioritize the extraction of magnetic rare earth oxides, including high-value elements such as neodymium, praseodymium, dysprosium, and terbium. Meanwhile, the company has set clear assumed prices: Pr-Nd oxide at $90/kg, dysprosium oxide at $269/kg, and terbium oxide at $888/kg, to ensure the economic viability of the project.

In addition, the Colossus project boasts a strong annual capacity, with an expected output of 5 million mt of rare earth ore and 10,000 to 12,000 mt of mixed rare earth carbonate per year.

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