Viridis Bolsters Leadership with Rare Earths Veteran for Brazilian Colossus Project
Viridis Mining and Minerals has made a strategic executive appointment, naming Mr Ross Forzatti as its new chief operating officer. The move is effective immediately and comes as the company accelerates its push toward a final investment decision for the massive Colossus rare earths project in Brazil.
Seasoned Executive Brings Decades of Global Experience
Mr Forzatti brings more than 24 years of hands-on experience in delivering major rare earth, battery materials, and complex metallurgical projects across the globe. His extensive career covers the complete project lifecycle from initial scoping and feasibility studies through detailed engineering, procurement, construction and final commissioning phases.
He has led multidisciplinary teams across Australia, Asia, India and the Americas, demonstrating his capability to manage complex international operations. Previously, Mr Forzatti established and managed Hatch's pyrometallurgical engineering practice across four different cities, showcasing his technical and leadership credentials.
Immediate Project Continuity and Risk Reduction
Critically, Mr Forzatti already possesses deep familiarity with the Colossus project, having led the initial scoping and pre-feasibility studies during his tenure at Hatch. This prior involvement provides immediate and invaluable continuity across multiple project aspects including:
- Project flowsheet development and optimization
- Execution risk assessment and mitigation strategies
- Supply chain planning and reagent strategies
- Logistics planning and Brazilian regulatory environment navigation
The company emphasizes that this continuity significantly reduces development risk as Viridis shifts into delivery mode. This transition includes completing the definitive feasibility study and advancing engineering, procurement, and construction management activities.
Perfect Timing for Project Advancement
Viridis Mining and Minerals managing director Rafael Moreno commented on the strategic timing of the appointment. "Ross's appointment comes at exactly the right time for Viridis. As we progress the completion of the DFS and move into EPCM selection and long-lead procurement, having an executive of Ross's calibre, who knows the Colossus Project in detail and has delivered major rare earth developments before, is critical to maintaining schedule discipline as we progress towards FID in Q3 2026."
Building on Recent De-risking Milestones
The executive appointment dovetails with Viridis' recent series of de-risking achievements at Colossus. These significant markers include:
- Securing the project's preliminary environmental license
- Gaining approval from the Brazilian Minas Gerais State Environmental Policy Council following endorsement of the environmental impact assessment in December last year
- Securing a binding US$30 million cornerstone funding agreement with Regia Capital and ORE Investments consortium in November
- Receiving a US$50 million Letter of Support from Export Finance Australia in January
This new funding complements earlier substantial backing from multiple export finance agencies including Export Development Canada, France's Bpifrance, and a joint support program from Brazil's BNDES and FINEP. Together, these financial arrangements round out the company's impressive export credit agency-led project debt-financing pathway toward full funding and the final investment decision.
Strategic Positioning in Global Rare Earths Race
Viridis is sharpening its execution capabilities as the global scramble intensifies to establish substantial rare earths supply sources outside China. The Colossus project represents a potential long-life cornerstone asset in this critical minerals landscape.
With the appointment of a seasoned chief operating officer who already knows the Colossus project inside out, Viridis gains steady operational leadership across approvals, development planning, and execution phases. As environmental permits continue to line up, funding pathways firm, and technical work advances, the project components are steadily falling into place.
Market observers are likely to monitor several key catalysts throughout the year including definitive feasibility study completion, EPCM contract awards, and the final investment decision. These milestones could position Viridis as a front-runner in the ongoing critical minerals boom, particularly as global demand for rare earth elements continues to grow across multiple industries including renewable energy, electric vehicles, and advanced manufacturing.
