Viridis Mining Orders Critical Filtration Equipment to Protect 2028 Rare Earth Target

Viridis moves from development into execution with first major equipment order

Viridis Mining and Minerals (ASX: VMM) has placed its first major equipment purchase order for the Colossus Rare Earth Project in Brazil, awarding the residue pressure filtration package to Italian specialist Dewater Filter Press Srl, based in Cagli, Italy. The award follows completion of the Colossus Definitive Feasibility Study (DFS) on 20 August 2026 and the securing of equity funding sources of up to US$120M, also confirmed on 20 August 2026. With those foundations in place, project execution at Colossus is now firmly underway, supporting a targeted first production date of 2028.

What the residue pressure filtration package does — and why it’s on the critical path

A residue pressure filter performs solid-liquid separation: it takes the processed clay coming out of the Colossus flowsheet, removes the liquid, and produces a filter cake that can be returned to the mined areas as part of progressive rehabilitation. This function sits at the centre of the 5Mtpa Colossus processing facility and is described in the announcement as “the heartbeat of the Colossus flowsheet.”

The package is what engineers call “long-lead” equipment. In plain terms, this means it takes a long time to manufacture — approximately 52 to 56 weeks — before it can even be shipped to Brazil. That single fact is why it sits on the project’s critical path: any delay in ordering means a delay to construction sequencing, which translates directly into a delay to first production. Placing the order now secures manufacturing capacity and allows vendor engineering to begin, keeping equipment delivery aligned with the planned construction and commissioning schedule.

The deliberate choice of pressure filtration also carries regulatory significance. Producing a stable, low-moisture residue suitable for progressive backfilling and rehabilitation has supported the project’s Environmental Impact Assessment (EIA) and Preliminary Licence approvals, and underpins the community and government support Viridis has established in Brazil.

The Environmental Impact Assessment and Preliminary Licence approvals were themselves the product of a technical and community engagement process, one in which the choice of pressure filtration and progressive rehabilitation played a direct supporting role.

Two critical-path contracts now in place

• Residue pressure filtration package — awarded to Dewater Filter Press Srl (this announcement)
• 138kV grid connection contract — previously awarded

Together, these two awards signal that execution momentum is building across multiple workstreams simultaneously.

A 12-month tender process — and what gives Viridis confidence in Dewater

Dewater was not simply selected off a shortlist. The vendor selection process ran for 12 months and involved leading global pressure filtration suppliers with significant experience in clay and mineral processing. The evaluation included dedicated test work using actual Colossus residue, detailed technical and commercial assessment, contractual performance guarantees covering both throughput and final residue moisture specification, and a pre-award qualification site visit to Dewater’s manufacturing facility in Cagli, Italy (Figure 1).

The dedicated test work was particularly important: it confirmed the final equipment sizing and operating parameters specific to Colossus residue, providing the basis for the contractual performance guarantees. This is not a standard off-the-shelf procurement — the equipment has been sized and validated for the specific design throughput and operating conditions of the Colossus processing facility.

Rafael Moreno, Managing Director

“The placement of our first major process equipment order for Colossus is another important step as we move from development into execution. Following completion of the DFS and with our equity funding requirement now addressed, our focus is firmly on maintaining momentum through the commencement of EPCM and progressive commitment of critical-path packages required to protect our targeted 2028 production schedule and position Viridis as the next major Western producer of both light and high-value heavy rare earth.

The selection of Dewater follows an extensive 12-month competitive tender and technical evaluation involving some of the world’s leading pressure filtration suppliers. Dedicated test work using Colossus residue, detailed technical assessment and contractual performance guarantees give us a high degree of confidence in both the equipment and its performance.

Our selection of pressure filtration for solid-liquid separation was deliberate. It is consistent with industry best practice for residue management and allows us to produce a stable, low-moisture residue that can be progressively returned to the mined areas, facilitating backfilling and rehabilitation as mining advances. This progressive rehabilitation approach is an important part of the environmental strategy for Colossus and has supported the Project’s Environmental Impact Assessment (‘EIA’) and Preliminary Licence approvals, together with the strong support we have established with the local community and municipal and State governments.”

Structured to protect capital ahead of FID

The purchase order has been deliberately structured to limit financial exposure before the Final Investment Decision (FID). Rather than committing the full contract value upfront, Viridis has arranged staged payment milestones tied to the project execution schedule. A contractual hold point sits prior to the full notice to proceed, meaning FID acts as a formal gate before the company is required to commit the remaining contract value.

This structure allows critical-path engineering and procurement to advance — keeping the 2028 production schedule protected — while limiting the pre-FID capital commitment. It is disciplined capital management: the project moves forward without the company overextending before project financing is fully locked in.

The rare earth supply gap Colossus is positioned to fill

The macro backdrop matters here. Consider where non-Chinese rare earth supply actually stands today:

• Only three significant rare earth mines are currently operating outside China
• Large-scale non-Chinese heavy rare earth production remains negligible at scale
• Governments and customers are actively prioritising supply diversification away from China as the geopolitical risk of concentration becomes clearer
• Colossus is positioned to deliver both light and high-value heavy rare earths at meaningful scale, placing it amongst a very small number of emerging producers capable of addressing this gap

Each procurement milestone Viridis achieves brings Colossus closer to becoming an important new source of diversified rare earth supply at a moment when that supply is in high demand.

For investors exploring where Colossus rare earth production is ultimately destined, our detailed coverage of Viridis’s downstream refinery strategy outlines the company’s plans for a US-based processing facility and the supply chain logic connecting Brazilian mine output to Western end markets.

Ready to Learn More About the Colossus Rare Earth Project?

Viridis Mining and Minerals (ASX: VMM) has moved decisively from development into execution, securing its first major process equipment order for the 5Mtpa Colossus facility — backed by a completed DFS and up to US$120M in equity funding — with first production targeted for 2028. The deliberate selection of pressure filtration technology and a 12-month competitive tender process underscore the technical rigour and capital discipline underpinning this project.

To explore Colossus’s position in the global rare earth supply landscape and Viridis’s full execution strategy, visit the Viridis Mining and Minerals investor profile on Discovery Alert for deeper coverage of the company’s milestones, downstream refinery plans, and path to production.