Viridis Mining (ASX:VMM) unlocks record-breaking recoveries, redefines rare earth efficiency at Colossus

In a standout development for Australia’s rare earths sector, Viridis Mining and Minerals (ASX:VMM) has announced unprecedented results from its Southern Complex project, elevating the prospects of its flagship Colossus asset in Brazil.

The latest round of metallurgical test work has not only confirmed the highest ionic recoveries to date but also positions Viridis as a front-runner in the race for efficient rare earth element (REE) extraction.

Key Highlights:

• Southern Complex metallurgical tests returned the highest ionic recoveries ever reported at Colossus, with Magnetic Rare Earth Oxide (MREO) recovery rates reaching 83%.
• The test work used a cost-effective ammonium sulphate solution at pH 4.5, significantly reducing reagent consumption by 40%.
• The results point to a transformative impact on operational costs, potentially lowering OPEX and CAPEX, while boosting production efficiency.

The scale and significance of this achievement are hard to overlook, given the growing demand for REEs driven by the renewable energy and technology sectors.

The maiden test program for the Southern Complex, encompassing the Cupim South and Centro Sul mining licenses, utilised a bulk composite sample from 26 drill holes, covering an expansive area of 5.66 square kilometres. Remarkably, 88% of this material had never been tested before, yielding record-setting recoveries.

Viridis CEO Rafael Moreno noted, “These results represent an outstanding start to the MREC test program from our southern group of concessions. With recoveries above 80% for our critical MREOs at a near-neutral pH, this showcases the unique value proposition of the Colossus Project.”

Notably, the diagnostic leach tests, conducted in collaboration with the Australian Nuclear Science and Technology Organisation (ANSTO), revealed a breakthrough improvement in recoveries at higher pH levels — a rare phenomenon in the realm of ionic adsorption clay projects.

This anomaly suggests that Colossus could achieve higher recoveries using a more benign and less intensive reagent solution, translating to significant cost savings and enhanced sustainability.

“The ability to reduce reagent consumption while improving recoveries is a unique breakthrough that hasn’t been witnessed before at Colossus,” Moreno added. “This implies a leaner, greener pathway to production, aligning well with our strategic goals.”

The promising results pave the way for further development, as Viridis advances its Southern Complex material through the full metallurgical flowsheet, including impurity removal and Mixed Rare Earth Carbonate (MREC) precipitation.

The next steps, according to the company, will involve comprehensive mine planning, resource estimation updates, and a much-anticipated scoping study, expected in early 2025.

The implications for Viridis are profound. With record-setting recoveries, a high-grade feedstock, and a streamlined processing route, the Colossus Project could emerge as a low-cost, high-value producer in the global REE market.

The results provide a strong foundation for further exploration and a potential boost in resource estimates, underscoring the company’s methodical approach to unlocking the economic potential of its substantial landholding.

In an industry where efficiency and environmental impact are under increasing scrutiny, Viridis Mining’s innovative approach to rare earth extraction might just set a new standard.