Viridis Mining and Minerals secures conditional letter of support from Export Finance Australia for Colossus Rare Earths project in Brazil, potentially providing up to A$77m in direct lending debt facility for project execution and financing. EFA’s support is based on Australian service provider involvement. Combined support from other agencies clarifies total debt capacity.

Colossus pre-feasibility study estimates project capital costs at $286m, or $356m with contingency. EFA’s letter of support completes targeted project debt package, enabling Viridis to progress towards securing full project financing and making a final investment decision (FID) expected in the second half of 2026. Project obtains preliminary environmental license, advancing negotiations with investors and offtake counterparties.

Viridis finalizes $30m strategic investment agreement with ORE Investments and Régia Capital for Colossus Rare Earths project in Brazil. Deposit holds highest-grade and largest Western resource of magnetic rare earth elements, including critical heavy rare earths terbium and dysprosium. Managing director Rafael Moreno highlights EFA’s support as final cornerstone in debt financing strategy.

EFA’s letter of support represents fourth international financing pillar in Viridis’ capital strategy, enhancing lender confidence and expanding access to government-backed project finance. Viridis’ progress towards full project financing for Colossus project signifies significant milestone in rare earths mining sector.

Read more at Yahoo Finance: Viridis receives LoS for Brazil’s Colossus Rare Earths project