Viridis Mining secures 77.5M Brazilian real financing
Full story: https://grafa.com/en/news/australia/viridis-mining-secures-77-5m-brazilian-real-financing
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Viridis Mining and Minerals secured a 77.5 million Brazilian real low-cost financing facility from the Brazilian Development Bank for its Brazilian subsidiary.
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The non-dilutive facility provides funding at an indicative interest rate of 4.8% per annum over a 16-year tenor.
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Proceeds will support rare earth research, processing operations, and project development at the Colossus Rare Earth Project.
Viridis Mining and Minerals (ASX:VMM) has secured approval for a 77.5 million Brazilian real government financing facility to advance its rare earth processing operations in Brazil.
The new agreement converts a joint support plan initially announced in July 2025 into formal long-term funding.
"The approval of this financing by BNDES is an excellent outcome for Viridis and another important endorsement of what we are building in Brazil," said Viridis Mining and Minerals Managing Director Rafael Moreno.
The facility consists of a four-year grace period followed by a 12-year amortisation structure.
The business noted that combined with US$154 million of identified equity funding, the BNDES facility reduces its remaining senior debt requirement for the US$449 million Colossus capital expenditure to approximately US$280 million.
Following the announcement, the Viridis Mining and Minerals share price was unchanged at $3.65.
The funding will support eligible expenditure incurred at the Rare Earths Research and Processing Centre in Poços de Caldas alongside ongoing demonstration plant operations.
Viridis stated that its research facility produced its first mixed rare earth carbonate in May as part of ongoing technical development and process validation.
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