Australian miner Viridis Mining and Minerals has confirmed it is poised to clear the final regulatory step for its flagship Colossus rare earths project in Brazil, with a key approval now expected before the end of the year.
Procedural Delay Paves Way for December Decision
The company announced that, despite a minor procedural delay, it remains firmly on track to receive the crucial Preliminary Licence (LP) from Brazilian authorities. The project was briefly withdrawn from the voting agenda of the State Environmental Policy Council of Minas Gerais (COPAM) on 28 November 2025.
This move followed a request from the environmental regulator, FEAM (Minas Gerais State Environmental Foundation), to allow time to formally respond to a late recommendation from the federal public prosecutor's office (MPF).
Viridis and FEAM have both stressed the withdrawal was purely procedural and does not change FEAM's favourable technical opinion, which strongly recommends granting the licence. The project is now scheduled for final deliberation at the next COPAM Mining Chamber meeting on 19 December 2025.
Regulatory Questions Addressed and Support Confirmed
The MPF's note, dated 24 November, raised high-level questions concerning hydrogeology, cumulative impacts, vegetation suppression, and residue classification. Viridis management stated these points had already been comprehensively addressed in its Environmental Impact Assessment report (EIA/RIMA), public hearings, and multiple supplementary submissions.
Independent reviews confirm the project's minimal environmental footprint, with only three of 98 local springs affected. Furthermore, the processed clay residue is officially classified as non-hazardous under the Brazilian ABNT NBR 10.004 environmental standard.
This classification eliminates the need for traditional tailings dams, a significant environmental and engineering advantage. Viridis Managing Director Rafael Moreno noted the temporary agenda withdrawal is a standard step following MPF input and has no impact on the positive technical assessment.
Support for the project appears robust, with two of the four COPAM councillors who initially sought extra review time now publicly backing the licence.
Colossus: A Strategic Rare Earths Giant
The Colossus ionic clay project in Poços de Caldas hosts a substantial JORC-compliant resource. The maiden mineral resource stands at 201 million tonnes, averaging 2640 parts per million (ppm) total rare earth oxides (TREO), including 740ppm of critical magnet rare earth oxides (MREO).
Conversion of the measured and indicated resource has defined a massive 200.6 million-tonne probable ore reserve at the same grade. This reserve contains approximately 530,000 tonnes of TREO, positioning Colossus as one of the largest and highest-grade ionic clay rare earth deposits outside China.
With FEAM's technical endorsement secure and only standard formalities remaining, Viridis is confident of securing the Preliminary Licence this month. This will clear the path for subsequent installation licence applications, keeping the company on target for first production in late 2026.
A positive decision on 19 December will represent the final regulatory gate for a project of major strategic importance to the Western world's critical minerals supply chain.
