Viridis Mining Orders First Major Colossus Equipment - 5 Mtpa Rare Earth Project Advances Toward 2028 Production

Highlights

• Viridis Mining awarded Dewater Filter Press the residue-pressure-filtration system for the planned 5 Mtpa Colossus operation in Minas Gerais, Brazil
• The 52–56-week manufacturing lead time drove the pre-FID order, as delays could directly push back the targeted 2028 first production date
• Equipment selection followed a 12-month competitive tender using actual Colossus residue, with contractual throughput and moisture guarantees providing meaningful project de-risking
• Colossus targets ionic adsorption clay rare earth mineralization with high reported grades and significant magnet-REE content, but financing, metallurgy, and downstream separation risks remain
• REEx identifies five key investor gates: FID, financing, construction, commissioning and recoveries, and qualified saleable product