Viridis, Ionic JV sends recycled metals to Brazilian magnet maker
A 50:50 joint venture between ASX-listed juniors Viridis Mining and Minerals and Ionic Rare Earths Limited - dubbed Viridion - has completed its first delivery of high-purity rare earth oxides to Brazil's only permanent magnet manufacturing facility.
The delivery is the latest step in a plan to build a fully integrated mine-to-magnet supply chain. The JV partners say the move could reshape the rare earths game in Latin America.
The shipment included critical magnetic elements such as neodymium, praseodymium, dysprosium and terbium, which were extracted from recycled end-of-life magnets sourced in Brazil.
The material was processed at Ionic's Belfast facility and shipped back for trial magnet production at Brazilian not-for-profit FIEMG's Innovation and Technology Centre of Minas Gerais (CIT SENAI) in Lagoa Santa city. The centre's Lab Fab facility is the first of its kind in Latin America.
Using advanced hydrometallurgical processing, Ionic transformed the old magnets into high-purity oxides of key magnetic metals.
Magnets pulled from retired MRI machines and wind turbines could be given a second life as part of Viridium's push into recycled rare earths.
The first shipment will support laboratory-scale alloy testing and magnet production. This is a crucial step in proving the recycled materials can meet the rigorous standards needed for electric vehicles, wind turbines and other high-performance technology. CIT SENAI expects to complete all tests with the recycled oxides during the second half of this year.
The magnet manufacturer's move to experiment with recycled rare earth oxides is being funded by a broader, collaborative MagBras initiative, which was recently allocated US$13 million by the Brazilian government to finance the development of a low-carbon industrial ecosystem.
The joint venture appears to have proved part one of its worth by delivering high-purity neodymium, praseodymium, dysprosium and terbium oxides to CIT SENAI. Management says if the oxides pass muster in the lab as a feedstock for magnet production, it will be a big step to building a regional supply chain and offering a real alternative to a China-dominated market.
The timing also appears to be spot on with Brazil's national ambitions. The government recently launched an R$8 billion (US$1.4B) funding pool through two of its public finance outfits to boost domestic processing and manufacturing of strategic minerals. Viridion believes it is well-positioned to tap into this pipeline with its latest delivery milestone.
FIEMG president Flávio Roscoe said the recycled material has the potential to meet up to 7 per cent of global magnetic rare earths demand, which would be a strategic breakthrough that could cut the nation's reliance on supply from China.
Beyond Viridis' plans for setting up a local recycling facility in Brazil, its flagship Colossus project - also in Brazil - keeps delivering the goods.
Recent tests revealed rare earth recoveries as high as 78 per cent have been pulled straight from soft clay using ammonium sulphate and water, without the need for blasting, acids or high temperatures.
The simple, clean process also shows the mine could be capable of producing a high-purity product at what might be among the planet's lowest all-in sustaining costs.
To get some definitive answers on the hard numbers, Viridis is racing ahead with a pre-feasibility study, due by the end of the second quarter. The company is also applying for a plant construction licence and is in advanced talks with potential offtake companies.
If all goes to plan, Viridis could be on track to anchor South America's first fully integrated rare earth supply chain - from mine to magnet and recycling - linking the heart of Brazil to the global EV surge.
In a world gripped by geopolitical risk and critical mineral shortfalls, Viridis appears to be quietly crafting a rare earth advantage built on security, sustainability and, potentially, some sound economics.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
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