Viridis Mining and Solvay form strategic rare earth partnership

Viridis Mining and Minerals (ASX:VMM) entered into a non-binding letter of intent with global rare earth separation firm Solvay.

The agreement outlines key commercial and technical principles for a comprehensive strategic partnership, including proposed offtake arrangements and a technical package for the supply of mixed rare earth carbonate from Viridis’ flagship Colossus Rare Earth Project.

The collaboration is designed to maximise downstream industrialisation capabilities within Brazil, leveraging Solvay’s globally recognised separation expertise and processing technology.

The partnership establishes a structured pathway to accelerate development milestones, targeting commercial MREC production in Brazil by 2028.

The framework is expected to improve key economic assumptions from the project's pre-feasibility study, strengthening its position for strategic project funding ahead of a targeted final investment decision in the second half of 2026.

By combining Colossus' high-quality feedstock with Solvay’s established infrastructure—notably its world-class Paulínia complex, which has operated in Brazil for over a century—the partnership secures a critical link in the domestic market.

Managing Director Rafael Moreno highlighted that the deal follows 18 months of rigorous due diligence, offering strong validation of the project's quality.