Viridis Mining & Minerals (ASX: $VMM) joint venture announcement

Viridis Mining & Minerals Limited (ASX: $VMM) has entered into a joint venture with Ionic Rare Earths Limited (ASX: $IXR) to commercialize Selective Separation Technology (SST) and Rare Earth Recycling Technology (RRT) in Brazil. The joint venture aims to become the first producer of refined Rare Earth Oxides (REO) in Brazil, with exclusive global rights to commercialize SST for downstream processing and RRT in Brazil.

Executive commentary on the joint venture

Chief Executive Officer, Rafael Moreno, stated, 'This Joint Venture now places Viridis at the forefront of Rare Earth companies outside of China, as we look to capitalize on our first mover advantage with this mature downstream technology. The JV aims to bring commercially ready REE recycling into Brazil, using a technology developed following years of R&D at IonicTech's Belfast facility. The Selective Separation Technology allows separation of all 17 Rare Earths into their Oxide form directly from a REE carbonate, disrupting the entire REE supply chain.'

Summary of the joint venture and outlook

The joint venture between Viridis Mining & Minerals and Ionic Rare Earths aims to revolutionize the downstream production of rare earth oxides in Brazil. With exclusive global rights to commercialize SST and RRT, the JV is set to disrupt the entire REE supply chain, providing enormous value for Colossus and many other REE projects. The technology's scalability potential and the JV's exclusive rights within Brazil position Viridis as a leading REE developer and refiner. The JV's scoping study will assess the economic implications of integrating this technology, providing an outlook for the company's ambitions and goals in the downstream supply of REOs.