Viridis Mining & Minerals, Others Get Preliminary Approval for Brazil Ionic Rare Earth Project

Published: Dec 30, 2025 09:59

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[SMM Flash: Viridis Mining & Minerals and Others Obtain Approval for Ionic Rare Earth Project in Brazil] The rare earth project of Australian mining company Viridis Mining & Minerals and Meteor Resources in Minas Gerais, Brazil, has recently received preliminary license approval from the State Environmental Policy Council (Copam), with a total investment of approximately $655 million. This approval marks a critical step forward for the project's advancement. Previously, the Federal Public Ministry (MPF) had recommended suspending the review process, requesting further assessment of environmental and social risks.

Viridis Mining & Minerals' Colossus project is planned to invest $358 million, while Meteor Resources' Caldeira project has an investment of $297 million. The enterprises stated that the preliminary license is the most complex stage in the project's environmental approval process, laying the foundation for subsequent final investment decisions. Viridis Mining & Minerals stated that the Colossus project has become one of the world's fastest-advancing ion-adsorption rare earth ore deposits and is expected to commence construction in H2 2026. Meteor Resources anticipates completing the final investment decision next year and advancing feasibility studies and technical R&D.

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