Viridis Mining and Minerals Limited (ASX: VMM) has advanced its strategic partnership with Ionic Rare Earths by forming Viridion Pty Ltd in Australia and Viridion Rare Earth Technologies Ltda in Brazil. This joint venture will lead the refinement and recycling of rare earth oxides (REO), positioning Viridion as the first South American producer of refined REO from both mixed rare earth carbonate (MREC) and recycled magnets. Scoping studies for REO refining and recycling facilities are set to commence in January 2025.
A Memorandum of Understanding (MoU) with SENAI / FIEMG Innovation and Technology Centre in Minas Gerais aims to develop rare earth magnets using Viridion’s oxides, creating a unique local supply chain independent of China. This collaboration is backed by Brazilian government and industry, including Invest Minas, which is dedicated to bolstering Brazil's rare earth supply chain infrastructure and securing regional resource independence.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
