Viridis obtains financing of R$77.5 million from BNDES for rare earths project

The mining company is in the licensing phase for the implementation of the Colossus project, which includes a 373-hectare mine for the exploration of rare earths in the municipality.

Rare earths are strategic minerals used in technologies such as electric cars, wind turbines, cell phones and defense equipment. Mixed rare earth carbonate is the result of the processing of ionic clay containing rare earths, being an intermediate product, before the separation of these minerals.

The financing line was provided through the BNDES Mais Inovação program, with a term of 16 years and an indicative cost of approximately 4.8%.

According to the BNDS, the resources will be used at the Rare Earth Research and Processing Center (CPTR), opened in May this year, and which will produce mixed rare earth carbonate on a pilot scale. The unit will also be used to test, validate and improve technologies that will be applied in the processing of ionic clays for the extraction of rare earths, which is scheduled to begin in 2028.

According to Viridis, the CPTR, installed in an area of 5 thousand m² in the Industrial District, is one of the largest pilot plants of its kind in the world. The company invested R$25 million in the unit, which has the capacity to process 100 kg of ore per hour and produce up to 2,920 kg of mixed rare earth carbonate per year.

"It is an investment aimed at promoting the national production of rare earths, which contributes to positioning Brazil as a global strategic supplier of critical minerals for the energy transition. The project involves supporting the innovation ecosystem in the Poços de Caldas region and the national supply chain, with the generation of qualified jobs”, stated the president of BNDES, Aloizio Mercadante.

The financing was obtained after Viridis had the project selected in the BNDES and Finep public call, launched in 2025 to finance projects related to the value chain of strategic minerals for the energy transition and decarbonization of the economy.

"Our objective is to transform this support into concrete resources for the development of our activities related to rare earths in Brazil. The approval of this financing of R$77.5 million represents an important delivery in relation to this objective and, together with the US$154 million in equity resources already raised, further strengthens our financial position as we move forward in obtaining the remainder of the senior financing necessary to make the Colossus project viable", said the general director of Viridis, Rafael Moreno.