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Highlights
- Viridion progresses in Brazil’s national funding plan
- CRITR facility aims to boost rare earth refining and recycling
- Focus on sustainable downstream processing for clean energy
Ionic Rare Earths (ASX:IXR) has moved a step closer to securing major funding for its Brazil-based joint venture, Viridion, with Viridis Mining and Minerals (ASX:VMM). The project has advanced in the selection process for a national-level financial support program led by Brazilian development agencies. Although neither company currently sits within the ASX 200 stocks, their collaborative venture is drawing attention for its strategic value in rare earth refining and magnet recycling.
Viridion was recently selected to develop a Joint Support Plan under Brazil’s R$5 billion government-backed initiative aimed at boosting the country’s critical mineral capabilities. The plan includes grants, debt, and equity funding and is designed to accelerate domestic processing capacity for rare earth elements, which are crucial for industries such as wind power and electric vehicles.
The joint venture’s flagship project—the Critical Rare Earth Industrial and Technology Recycling (CRITR) facility in Poços de Caldas, Minas Gerais—represents a step toward localized value addition. Once operational, the facility will process and recycle rare earth magnets, contributing to Brazil’s goal of becoming a competitive and secure source of these materials.
This initiative is also aligned with Brazil’s broader industrial transformation strategy, “Nova Indústria Brasil,” which prioritizes technological independence and a robust supply chain for critical resources. Viridion’s role in this transformation is marked by its exclusive rights to apply Ionic Technologies’ patented separation and magnet recycling technology across Brazil, excluding Asia and Uganda.
The recycled rare earth oxides delivered earlier this year to a manufacturing partner in Brazil underscore Viridion’s technical readiness and commitment to the domestic supply chain. Through its pilot and demonstration projects, the joint venture aims to enable a sustainable foundation for downstream processing and innovation.
Ionic Rare Earths and Viridis Mining’s collaboration reflects a wider shift toward developing rare earth capabilities beyond traditional exploration. As global supply chains tighten, Brazil’s emergence as a processing hub may reshape how critical minerals are sourced and refined across regions like Europe, North America, and Asia.
With the support of national institutions and forward-looking policies, Viridion’s progress offers a timely case study in strategic mineral development and industrial growth in South America.
