Viridis has received the Certificate of Regularity for Land Use and Occupation from the Municipality of Poços de Caldas, a critical prerequisite for environmental licensing under State Decree No. 47,383/2018. This approval confirms legal alignment for the Colossus Project, which is designed to incorporate low-energy processing, renewable grid power, and Zero Liquid Discharge (ZLD) to minimize its carbon intensity and water discharge.
The Colossus Project benefits from access to a highly renewable electricity grid, with power predominantly generated by hydropower. The project has secured 27MW of power capacity from DME, ensuring operational reliability and potential future expansion. Water efficiency is embedded into the process design, with minimal freshwater requirements and extensive water recycling, supporting the ZLD design philosophy.
Process residue is classified as non-hazardous and managed through progressive backfilling, avoiding the need for a conventional tailings dam. This approach provides several important environmental and operational benefits, including reduced surface disturbance, progressive rehabilitation throughout the production target period, and reduced long-term residue storage requirements.
Viridis has undertaken a series of specialized hydrogeological studies within the Northern Concession area to support mine planning, environmental licensing, and the application for a groundwater abstraction permit. These studies confirm the technical feasibility of mine development and ensure that water resources will be managed responsibly and sustainably.
Material actions and disclosures
The Colossus Project has received the Certificate of Regularity for Land Use and Occupation, confirming legal alignment for environmental licensing. The project incorporates low-energy processing, renewable grid power, and Zero Liquid Discharge (ZLD) to reduce its carbon intensity and minimize water discharge. Process residue is managed through progressive backfilling, avoiding the need for a conventional tailings dam.
The project has a structured stakeholder engagement program and has conducted hydrogeological studies to support mine planning and environmental licensing.
Forward commitments
The Installation Licence (IL) application was submitted on 19 May 2026, representing a significant advancement in project maturity. The IL dossier submission includes a comprehensive Environmental Control Plan (PCA) and demonstrates compliance with applicable conditions established under the Preliminary Licence (PL).
The IL submission also includes detailed project engineering covering mining, processing, and supporting infrastructure. The Colossus Project is expected to commence operations after securing the Installation Licence (IL).
Viridis is committed to developing Colossus as a low-impact, community-integrated, and environmentally responsible rare earth operation, incorporating progressive rehabilitation, extensive water and reagent recycling, and responsible residue management into the project design.
Attributed to: Viridis announcement, 2026.