Viridis Mining and Minerals Ltd (ASX:VMM) CEO Rafael Moreno joins Proactive’s Tylah Tully to discuss the company’s latest news and investor case.
Viridis has reported exceptional results from its maiden mixed rare earth carbonate (MREC) production campaign at the Northern Concessions of the Colossus Ionic Adsorption Clay (IAC) Project.
The Australian Nuclear Science and Technology Organisation (ANSTO) conducted the test work, which confirmed record-breaking recoveries of magnetic rare earth oxides (MREOs), including praseodymium (77%), neodymium (76%), dysprosium (67%) and terbium (71%), resulting in an overall 76% MREO recovery.
The process used a low-cost ammonia-based flowsheet operating at a pH of 4.5, room temperature, and a 30-minute residence time.
Most impressively, after the ammonia sulphate leaching step, there are minimal losses of REEs throughout the entire flowsheet to produce a final saleable MREC product, which is groundbreaking.
The final MREC product achieved a high concentration of 60% total rare earth oxides (TREO), with an MREO/TREO ratio of 39%, the highest globally for an IAC project.
Impurities were kept to a minimal 1%, which supports ongoing discussions with potential offtake partners. The low reagent consumption and the use of higher pH have reduced operating costs, making the Colossus project economically competitive.
These results position Colossus as a leading rare earth project, demonstrating its technical and economic potential to produce high-quality MREC with a premium basket value.