FEAM Recommends Preliminary License for Viridis’ Colossus Rare Earth Project

Environmental Licensing Progress

Viridis Mining and Minerals Limited has taken a significant step forward in the development of its Colossus Project in Minas Gerais, Brazil, with the state environmental authority FEAM completing a favorable technical evaluation of the project's Environmental Impact Assessment. This assessment formally recommends granting the Preliminary License, a crucial milestone that clears a major regulatory hurdle and brings the project closer to operational reality.

The Colossus Project, which focuses on rare earth elements, has been under careful environmental scrutiny given the sensitive nature of mining activities and the growing global demand for these critical minerals. The Preliminary License is a foundational approval that validates the project's compliance with environmental standards and allows Viridis to proceed with further development steps.

Addressing Regulatory and Public Concerns

Following the initial technical assessment, FEAM updated its evaluation to directly address concerns raised by the Public Prosecutors’ Office. This response, issued on 24 November 2025, reinforced the thoroughness and robustness of the environmental licensing process. Viridis has worked closely with FEAM to correct outdated or inaccurate assumptions, demonstrating a proactive approach to regulatory engagement and public accountability.

The updated technical opinion will be the primary document reviewed at the upcoming Chamber of Mining Activities meeting within COPAM, the State Environmental Policy Council of Minas Gerais, scheduled for 19 December 2025. This re-listing signals confidence from the environmental authorities and positions the Colossus Project favorably for final Preliminary License approval.

Implications for Project Development

With the Preliminary License anticipated to be granted, Viridis is poised to submit its application for the Installation License, the next critical step that permits the commencement of construction and operational activities. This progression underscores the company’s commitment to advancing the Colossus Project responsibly and in alignment with environmental regulations.

Beyond Colossus, Viridis maintains a diversified portfolio with exploration and development projects across Brazil, Canada, and Australia, including prospects for gold, nickel, copper, and platinum group elements. The successful advancement of Colossus’ environmental licensing may serve as a positive signal for the company’s broader strategic ambitions.

Looking Ahead

As the COPAM council meeting approaches, all eyes will be on the regulatory outcome that could unlock further development momentum for Viridis. The company’s transparent communication and responsiveness to regulatory feedback suggest a well-managed process, but the final decision remains a pivotal moment for investors and stakeholders alike.