Viridis Mining & Minerals (ASX: $VMM) announcement overview

Viridis Mining & Minerals Limited (ASX: $VMM) has awarded a contract to Hatch Pty Ltd for the delivery of a Scoping Study for the Colossus Project and general Engineering Support. The Scoping Study will commence in March 2024, focusing on the highly prospective Northern concessions consisting of Fazenda, Caminho Das Pedras, Central, and Carijo Prospects. The study aims to assess the technical options available to deliver the Colossus Project and the associated economic analysis with the proposed options.

Executive commentary on the partnership

Chief Executive Officer, Rafael Moreno, expressed his excitement about securing a strategic world-class professional services contractor such as Hatch, emphasizing the crucial role of the engineering contractor in de-risking the execution phase of the project. Hatch Director Metals Australia-Asia, Claude D'Cruz, also conveyed enthusiasm about working with Viridis to set the Project up for future success by drawing on their significant expertise in the processing of rare earths and associated elements, and their substantial project delivery experience.

Summary of the announcement and outlook

Viridis Mining & Minerals Limited's partnership with Hatch Pty Ltd for the delivery of a Scoping Study for the Colossus Project marks a significant step in the company's aggressive Development timeline. The study aims to provide crucial insights into processing and production methods, logistics and facility infrastructure, economic analysis, and project risks, opportunities, and key technology register. This collaboration reflects Viridis' commitment to de-risking the project execution phase and setting global benchmarks in environmental standards. The company's ambitions to support project financing, offtake discussions, and finalization of the project execution plan are evident, showcasing a strong focus on the future success of the Colossus Project.