Viridis Delivers First Refined MREC From Colossus Ore to Brazil’s Magnet Facility
Key Takeaways
- Viridis has delivered the first 5kg batch of refined Mixed Rare Earth Carbonate produced from Colossus ore to CIT SENAI ITR, the largest rare earth magnet laboratory and pilot manufacturing facility in the Southern Hemisphere.
- The delivery initiates a fully domestic Brazilian supply chain spanning five institutions — from Colossus mining through to NdFeB permanent magnet production and testing — without reliance on offshore processing.
- The CPTR facility can process approximately 100kg of ore per hour and produce up to 2,920kg of MREC per annum, providing a demonstration-scale platform to optimise the Colossus flowsheet ahead of commercial production.
- Viridis is targeting commercial production in 2028, anchored by the Colossus Definitive Feasibility Study announced on 20 August 2026.
- The primary production pathway is complemented by Viridion, the joint venture with Ionic Rare Earths (ASX: IXR), which delivered Brazil's first locally sourced recycled magnetic rare earth oxides to CIT SENAI ITR in May 2025 — creating an integrated closed-loop supply chain.
Colossus MREC milestone advances Brazil’s mine-to-magnet ambitions
Viridis Mining and Minerals (ASX: VMM) has delivered the first 5kg batch of refined Mixed Rare Earth Carbonate (‘MREC’) produced from Colossus ore at its Rare Earth Research and Processing Centre (‘CPTR’) facility to SENAI Innovation and Technology Centre of Minas Gerais (‘CIT SENAI ITR’). The delivery marks another operational milestone in the company’s three-year strategy to support the industrialisation of Brazil’s rare earth industry, building on its earlier contribution — recycled rare earth oxides delivered through joint venture Viridion in May 2025. What sets this apart is the progression beyond basic mineral concentrate to a higher-value refined mid-stream product, positioning Viridis further up the value chain and demonstrating advanced domestic processing capability.
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From Brazilian ore to permanent magnets: tracing the supply chain
The refined MREC now enters a fully domestic processing pathway, demonstrating Brazil’s developing capability to keep the entire supply chain within its borders. The material will progress through:
- Colossus (Minas Gerais) — Brazilian rare earth ore mined
- CPTR (Poços de Caldas) — ore processed into refined MREC
- CETEM (Rio de Janeiro) — separation into rare earth oxides
- IPT-USP (São Paulo) — production of rare earth alloy
- CIT SENAI ITR (Minas Gerais) — NdFeB permanent magnet production and testing
CIT SENAI ITR is the largest rare earth magnet laboratory and pilot manufacturing facility in the Southern Hemisphere, according to the company. The facility forms part of Project MagBras, an initiative approved under the Mover Program that brings together mining companies, technology companies, and industrial participants to develop a domestic and sustainable supply chain for the production of Neodymium-Iron-Boron (‘NdFeB’) permanent magnets — strategic components for the energy transition.
Rafael Moreno, Managing Director
“We are now introducing a refined MREC product produced from Colossus ore into that same emerging Brazilian supply chain.”
“We believe Colossus can be one of Brazil’s foundation projects, providing the scale and high-value feedstock required to establish Brazil as a trusted long-term supplier to global markets.”
What is MREC and why does the value chain matter?
Mixed Rare Earth Carbonate is a refined mid-stream feedstock produced after ore processing but before separation into individual rare earth oxides. It sits in the middle of the mine-to-magnet value chain: primary production → processing/refining → separation → alloy → magnet manufacturing → recycling.
Moving beyond basic mineral concentrate to refined MREC matters for three reasons. First, it is a higher-value product, capturing more margin than selling raw concentrate. Second, it positions Viridis further up the value chain, reducing reliance on offshore processing. Third, it demonstrates domestic capability to produce a feedstock that downstream processors can use immediately, strengthening Brazil’s position as a potential alternative supplier.
The rare earth elements involved — neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb) — are critical inputs for NdFeB permanent magnets used in electric vehicle motors, wind turbines, and high-efficiency industrial motors. Securing diversified supply chains for these materials is a priority for manufacturers seeking to de-risk their exposure to concentrated supplier markets.
The investment case: Colossus as a foundation project
The CPTR facility is one of the largest rare earth demonstration facilities outside China, with the capacity to process approximately 100kg of ore per hour and produce up to approximately 2,920kg of MREC per annum. The facility provides Viridis with a platform to optimise the Colossus flowsheet while producing meaningful quantities of refined MREC to support downstream product development and qualification ahead of targeted commercial production in 2028, as outlined in the Colossus Definitive Feasibility Study announced on 20 August 2026.
| Milestone / Metric | Investment Significance |
|---|---|
| CPTR capacity: ~100kg ore/hour | Demonstration-scale facility with proven throughput capability |
| Up to ~2,920kg MREC per annum | Meaningful product volumes for downstream qualification and testing |
| Targeted commercial production: 2028 | Clear development timeline anchored by DFS |
| Backed by Colossus DFS (20 Aug 2026) | Project bankability and execution readiness confirmed |
The strategy aligns with Brazilian Government initiatives to capture greater value domestically from the country’s strategic mineral resources. Governments, manufacturers, and rare earth customers are making long-term supply decisions now, and Viridis is positioning Colossus as a foundation project capable of providing the scale and high-value feedstock required to establish Brazil as a trusted long-term supplier.
José Luciano de Assis Pereira, General Manager of Innovation and Technology at SENAI
“This delivery forms part of Project MagBras, which is focused on developing knowledge and technology, and represents a very important milestone because we are consolidating a genuinely Brazilian raw material.”
Closing the loop: Viridion and the circular rare earth economy
The primary production pathway from Colossus is complemented by a recycling arm via Viridion, the joint venture between Viridis and Ionic Rare Earths (ASX: IXR). In May 2025, Viridion delivered separated Nd, Pr, Dy, and Tb rare earth oxides from recycled end-of-life magnets to CIT SENAI ITR — described by the company as Brazil’s first locally sourced range of recycled magnetic rare earth oxides.
In December 2024, Viridion received formal support from Invest Minas, the investment promotion agency for the State of Minas Gerais, to evaluate deploying IXR’s proprietary magnet recycling technology within the region. Preliminary assessments indicate the potential for materially lower operating costs for Rare Earth Oxide production from alloy feedstock compared to traditional markets. CIT SENAI’s Lab Fab facility aims to increase NdFeB magnet production to 100 tonnes per annum by the end of 2026.
The circular loop:
- End-of-life magnets recovered from motors, electronics, wind turbines, EVs
- Recycling technology processes magnets to recover rare earth elements
- Rare earth oxides produced (high purity Nd, Pr, Dy, Tb)
- Back into the supply chain — oxides return to domestic processing (CETEM, IPT-USP, CIT SENAI ITR) to make new alloys and permanent magnets
The combined primary production and recycling approach creates an integrated, closed-loop supply chain — a differentiated investment angle in a market where most projects focus exclusively on mine development.
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What comes next for Viridis
The refined MREC now progresses through CETEM for separation into rare earth oxides, then to IPT-USP for rare earth alloy production, before returning to CIT SENAI ITR for permanent magnet manufacture and testing. Viridis remains on track for targeted commercial production in 2028 per the Colossus DFS. The company is helping establish Brazil as a trusted long-term supplier of diversified rare earth supply, capturing more of the value chain domestically as the country builds out downstream processing and advanced manufacturing capability.
Want to Know How Viridis is Building Brazil’s Mine-to-Magnet Supply Chain?
Viridis Mining and Minerals has delivered its first refined MREC from Colossus ore to Brazil’s largest rare earth magnet facility, marking a critical step in the company’s strategy to capture higher-value processing domestically. The delivery positions Viridis further up the value chain ahead of targeted commercial production in 2028.
To explore how the Colossus project fits into the emerging Brazilian rare earth supply chain and access the latest investor updates, visit the Viridis Mining and Minerals investor centre. The company’s DFS and processing milestones provide insight into the investment case for Brazil’s foundation rare earth project.