Colossus Concessions Reach New Heights in Rare Earth Recovery
Viridis Mining has recently achieved a groundbreaking milestone with the Colossus project, showcasing exceptional recovery rates of rare earth elements.
The Cupim South concession notably reached a remarkable 67% average recovery of neodymium and praseodymium, setting a new benchmark. Following closely behind, the northern concessions demonstrated an impressive 63% recovery rate.
Additionally, Capão da Onça and Ribeirão displayed significant recoveries of Nd and Pr, averaging at 59%.
For dysprosium and terbium, the northern concessions excelled with an average recovery of 65%. Cupim South also showcased commendable Dy and Tb recovery rates, averaging 53%, while Capão da Onça and Ribeirão achieved 59% and 49% respectively.
Viridis CEO Rafael Moreno expressed his excitement, stating, “This positions Colossus as one of the leading projects worldwide for Nd, Pr, Dy, and Tb recovery using simple, effective extraction methods.”
The impressive results highlight the potential of Colossus, especially the Northern Concessions, which remain integral to the growth of the project. Notably, they boast granted mining licenses and contain the highest grades of Heavy Rare Earths at the surface in the Poços De Caldas alkaline complex, coupled with globally-leading average Dy and Tb ionic recoveries.
Market response was swift, with shares of Viridis surging by 4.63% following the announcement. The company’s current market capitalization stands at an impressive $44.2 million, reflecting investor confidence in the project’s potential.
