Viridis Secures Brazilian Government Funding for Strategic Mineral Development

Viridis Mining and Minerals Limited ( (AU:VMM) ) just unveiled an announcement.

Viridis Mining and Minerals Ltd, along with its joint venture Viridion, has been selected to receive significant funding from the Brazilian National Bank for Economic and Social Development (BNDES) and the Federal Agency for Funding Authority for Studies and Projects in Brazil (FINEP). This funding will accelerate the development of its Colossus Project and downstream refining and recycling facilities, positioning Viridis as a key player in the global rare earths supply chain. The funding supports the construction of pilot and commercial plants, metallurgical testing, and engineering feasibility studies, among other initiatives. This development comes at a crucial time as global demand for rare earths increases amid supply chain uncertainties, particularly due to China’s export restrictions. Viridis is well-positioned to contribute to supply diversification and reduce reliance on foreign suppliers, aligning with Brazil’s strategic goals for its critical minerals sector.

The most recent analyst rating on (AU:VMM) stock is a Buy with a A$1.45 price target. To see the full list of analyst forecasts on Viridis Mining and Minerals Limited stock, see the AU:VMM Stock Forecast page.

More about Viridis Mining and Minerals Limited

Viridis Mining and Minerals Ltd is a company operating in the mining and minerals industry, focusing on the development of strategic minerals such as rare earths and permanent magnets. The company is engaged in projects that support the energy transition and decarbonization efforts, aiming to establish a fully integrated rare earth supply chain outside of China.

Average Trading Volume: 353,285

Technical Sentiment Signal: Hold

Current Market Cap: A$32.76M

See more insights into VMM stock on TipRanks’ Stock Analysis page.