Viridis Mining's Rare Earths Project Clears Key De-Risking Milestones

First production of mixed rare earth carbonate and secured offtake partners across the US, Europe and Asia are de-risking Colossus's path to a final investment decision.

30 Jun 2026 · 3 min read

Viridis Mining and Minerals surged to all-time highs as its Colossus ionic adsorption clay rare earths project in Brazil, considered one of the highest-grade and largest globally, hit a string of de-risking milestones including first production of mixed rare earth carbonate, positioning it to benefit from the West's long-term strategic push to reduce reliance on Chinese rare earth supply.

A long-term critical minerals soft-war creates a structural tailwind

Cerutty Macro Fund said that while US-China trade temperature had cooled from its late-2025 peak, it does not believe the critical minerals chapter has closed, particularly in rare earths, where supply-chain control remains a central strategic priority for Western markets, describing the critical minerals theme as having evolved into a long-term soft war between the West and China, as nations seek to de-risk reliance on Chinese supply for components underpinning electric vehicles and clean energy.

The critical minerals theme has evolved into a long-term soft-war between the West and China, as nations seek to de-risk reliance on Chinese supply for components that underpin electric vehicles, clean energy and other strategic industries.

— Cerutty Macro Fund, Monthly Report, December 2025

The Colossus project's world-class scale

Antares Capital said its overweight position contributed to April performance as Viridis surged almost 50 percent over the month to reach all-time highs, describing a company focused on developing rare earth element projects, with seven projects across three countries, though the majority of the value lies in advancing its Colossus ionic adsorption clay project in Brazil, considered one of the highest-grade and largest ionic clay deposits globally.

The majority of the value in the business is seen in advancing its Colossus ionic adsorption clay (IAC) project in Brazil, which is considered one of the highest-grade and largest ionic clay deposits globally.

— Antares Capital, Monthly Report, April 2026

A string of de-risking milestones

Antares Capital said performance was driven by a series of de-risking catalysts in late May, including first production of mixed rare earth carbonate from its demonstration plant, marking a key proof-of-concept milestone, alongside opening its rare earth processing centre and progressing offtake discussions with Western buyers, while advancing permitting through lodgement of its Installation Licence ahead of a targeted second-half 2026 final investment decision. SG Hiscock and Company said Viridis continued to strongly contribute to performance, delivering three meaningful milestones at Colossus: submission of the Installation Licence application, a drilling milestone adding further resource confidence, and first production of mixed rare earth carbonate from the demonstration plant, together materially de-risking the path to a final investment decision.

Rare earths developer Viridis Mining delivered three meaningful milestones at its Colossus project in Brazil: submission of the Installation Licence application, a drilling milestone adding further resource confidence, and first production of mixed rare earth carbonate from the demonstration plant. Together these advances materially de-risk the path to a Final Investment Decision.

— SG Hiscock and Company, Monthly Report, May 2026

Global offtake partnerships confirm the strategic positioning

Wilson Asset Management said Viridis Mining and Minerals is advancing a large-scale rare earths project in Brazil and is well positioned as offtake partners are secured across the US, Europe and Asia.

What fund managers say they are watching next is delivery of the targeted second-half 2026 final investment decision, continued offtake partnership agreements with Western buyers across the US, Europe and Asia, progress on the Installation Licence permitting, and whether the West's structural de-risking from Chinese rare earth supply continues supporting the stock through this soft-war period.