Viridis Mining and Minerals signs crucial agreements with state and local governments

Viridis Mining and Minerals Limited (ASX: $VMM) has signed two non-binding Memorandum of Understanding (MoU) agreements with the State Government of Minas Gerais and the Municipality of Poços De Caldas. These agreements aim to expedite the regulatory and environmental approvals for the Colossus Project, demonstrating the support from the state and local governments in advancing the project.

Executive Commentary on Agreements and Project Significance

To be recognised by both the State and local Governments regarding the positive economic impact the Colossus Project is expected to have, is a testament to the incredible asset we have on our hands. The recent signing ceremony attended by Minas Gerais State Governor Romeu Zema Neto, Director of Invest Minas Ronaldo Barquete and Mayor of Poços de Caldas Sergio Antônio de Azevedo is clear evidence of the intent from all parties to accelerate the Colossus Project through the various development stages. Regulatory approvals are typically one of the biggest risks on any project, and to have the backing and support from State and local governments to prioritise the approvals and licensing process will go a long way in de-risking our development timeline.

Summary of Viridis Mining and Minerals' Agreements and Outlook

Viridis Mining and Minerals Limited has secured crucial agreements with the State Government of Minas Gerais and the Municipality of Poços De Caldas, signaling strong support for the Colossus Project. These agreements aim to expedite regulatory and environmental approvals, highlighting the strategic importance of the project at local, state, and federal levels. The Company's CEO, Rafael Moreno, emphasized the positive economic impact expected from the project and the exceptional support received from the government entities. The signing event, attended by industry leaders and government officials, underscores the significance of the project and its potential to create jobs and strengthen the local economy. With these agreements in place, Viridis is well-positioned to advance the Colossus Project and contribute to the development of the Poços De Caldas Alkaline Complex, aiming to become a central Rare Earth Hub of international significance.