InvestSMART

Viridis Mining and Minerals Limited (ASX:VMM)

ALERT: Price-sensitive ASX Announcement for VMM
Current share price for VMM : $3.620 -0.24 (-6.22%)+
Announcement
Release
2 Jun 2026 8:22AM
Price at Release
$3.860
Full Release
download
Summary
Viridis Mining and Minerals Limited has entered a strategic partnership with Solvay S.A. through a non-binding Letter of Intent, aiming to supply Mixed Rare Earth Carbonate from their Colossus Rare Earth Project. This collaboration seeks to leverage Solvay's rare earth separation expertise to enhance VMM's industrialisation capabilities in Brazil and support the development and production milestones for the Colossus Project by 2028. The partnership is a critical step in securing funding and aligns with efforts to build a Western-aligned rare earth supply chain that ensures security and diversification. Solvay's extensive local experience and established supply chains in Brazil are expected to significantly benefit VMM's operational advancements.
Key Points
  • Viridis Mining and Minerals Limited (VMM) has signed a non-binding Letter of Intent (LoI) with Solvay S.A.
  • The LoI involves the supply of Mixed Rare Earth Carbonate (MREC) from the Colossus Rare Earth Project.
  • The partnership aims to enhance industrialisation capabilities in Brazil using Solvay's separation expertise.
  • The agreement seeks to advance development milestones for the Colossus Project and aim for MREC production by 2028.
  • The collaboration aligns with Western-aligned rare earth supply chain security and diversification goals.
  • This partnership marks a strategic milestone in VMM's strategic financing and project funding process.
  • Solvay's local experience and established supply chains in Brazil offer significant support to VMM.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.