Viridis Mining Selects Sedgman-Blossom for US$450 Million Colossus Rare Earth Project

Highlights

• Viridis Mining authorizes up to US$3 million in pre-FID engineering and procurement to protect its targeted 2028 production schedule.
• Sedgman Pty Limited and Brazil's Blossom Consultoria are named preferred EPCM partners for the US$450 million Colossus project in Minas Gerais.
• State-owned BNDES has committed R$77.5 million (~US$15M) to Viridis' Rare Earth Research and Processing Center, strengthening Brazil's processing capabilities.
• A cold-eyes DFS review by the EPCM team identified potential capital optimization opportunities before full construction approval.
• Colossus targets first production in 2028, positioning it as a potential non-Chinese heavy rare earth supplier during a critical Western diversification window.