Latest news with #Colossus
West Australian
4 days ago
- Business
- West Australian
Viridis hatches plan for US refinery of Brazilian rare earths product
Viridis Mining & Minerals has unveiled its bold new plans to explore a United States-based rare earth refinery solution through its joint venture entity Viridion, capitalising on surging Western demand for critical minerals amid China's tightening rare earths monopoly. The company is now eyeing North America to cement its role as a cornerstone in a vertically integrated, ex-China rare earth supply chain. The move comes as the US ramps up its efforts to secure sustainable sources of magnet rare earth oxides (REO) vital for electric vehicles, defence systems and renewable energy technologies. Viridion is a 50:50 partnership with ASX-listed technology leader Ionic Rare Earths. Through Ionic, Viridis is updating a scoping study to assess the feasibility of producing a US mixed rare earth carbonate (MREC) from its flagship Colossus project in Minas Gerais, Brazil. The study, set for completion in the second half of this year, will build on Ionic's blueprint for a Tennessee-based facility capable of producing 4000 tonnes per annum of separated magnet REO, including dysprosium and terbium, which are also ensnared in China's export restrictions. Viridis' renowned premium MREC product already looks to be an industry leader, thanks to negligible impurities and cheap processing. Its robust economics, even in a low-price environment, make it an attractive feedstock for global refineries and could help meet the US's urgent need for traceable, high-purity materials. The US refinery scoping study will evaluate a pilot-scale facility, with discussions already advanced for a Brazilian site to validate processing methodologies. The proposed Tennessee plant, strategically located near potential US partners, would leverage Ionic Technologies' proprietary separation processes, for which Viridion holds exclusive global rights outside Asia and Uganda. Viridion has had its foot to the floor recently, with the joint venture last month delivering high-purity neodymium, praseodymium, dysprosium and terbium oxide from recycled magnets, utilising Ionic's cutting-edge hydrometallurgical technology. Last week, the company secured a slice of the Brazilian Government's US$1.4 billion (A$2.15B) strategic minerals program. The funding has turbocharged plans for its local refining and recycling assets, setting the stage for Viridis to export its proven technology to a potential US facility. Viridis maintains its focus remains with the Colossus project in Brazil, where a pre-feasibility study with engineering firm Hatch is on track for completion within the month. A February scoping study at the project forecast a staggering US$2.28B (A$3.6B) in EBITDA over a 20-year mine life, driven primarily by the all-important magnet rare earths neodymium and praseodymium. The project's ultra-low operating costs of US$6 a kilogram (A$9.2/kg) total rare earth oxides and high-grade heavy rare earths – estimated at 146 to 156 tonnes per annum of dysprosium and terbium in the first decade - place it in the lowest quartile of rare earth production globally. The company is engaged in advanced offtake and financing talks with strategic partners, following a successful environmental impact assessment submission in January. As global supply chains grapple with geopolitical risks, Viridis and by extension Viridion are emerging as front-runners in the race to secure critical minerals. Their US ambitions, now backed by Brazilian government support and Ionic's proven technology, position Viridion to bridge the gap between Western demand and non-Chinese supply. Is your ASX-listed company doing something interesting? Contact:
NBC News
5 days ago
- Business
- NBC News
NAACP announces plans to sue Musk's xAI over pollution concerns
The NAACP announced Tuesday that it intends to bring a lawsuit under the Clean Air Act against Elon Musk's startup xAI, which launched a supercomputer project in Memphis last year. The company's use of gas turbines to power the supercomputer, Colossus, runs afoul of environmental regulations and is worsening pollution in the area, the Southern Environmental Law Center, which represents the NAACP, wrote in a letter to xAI. The turbines emit nitrogen oxides, a key contributor to smog, and formaldehyde, among other pollutants, according to their manufacturer. Last month, the NAACP called for an emergency order to shut down the supercomputer until a permit is obtained. Tuesday's announcement was a further escalation, with the organization notifying the company, as required by law, of its intent to sue unless the company addresses the alleged violations. 'We cannot afford to normalize this kind of environmental injustice — where billion-dollar companies set up polluting operations in Black neighborhoods without any permits and think they'll get away with it because the people don't have the power to fight back,' NAACP President and CEO Derrick Johnson said in a statement. 'We will not allow xAI to get away with this.' The Southern Environmental Law Center argues that xAI was required to have a permit before bringing the turbines onsite. But the county health department, the mayor and the Chamber of Commerce have said permits aren't required for the turbines' first year of use. In a statement Tuesday, xAI said it's following the law. 'We take our commitment to the community and environment seriously,' an xAI spokesperson said in a statement. 'The temporary power generation units are operating in compliance with applicable laws.'
Newsweek
5 days ago
- Business
- Newsweek
Elon Musk's AI Data Center Faces Lawsuit Over Air Pollution Complaints
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Elon Musk's artificial intelligence data center in Memphis, Tennessee, faces a lawsuit over air pollution from the fleet of mobile gas-fired turbines the company uses to power the massive computer facility, called Colossus. On Tuesday, the nonprofit Southern Environmental Law Center (SELC) told Musk's artificial intelligence company, xAI, that it will sue on behalf of the NAACP. The 60-day notice of intent to sue is a prerequisite to filing a lawsuit under the Clean Air Act. As Newsweek reported last August, xAI installed dozens of natural gas turbines rather than wait for a connection to the local electric grid. The SELC said in its legal notice Tuesday that xAI has been operating the turbines without any air quality permits, sending hazardous pollution into a low-income community that already suffers from dirty air. "We have on four different occasions sent formal requests to the local health department asking for them to use their authority to enforce the law," SELC senior attorney Patrick Anderson told Newsweek. "Obviously, that hasn't happened." An aerial view of the xAI Colossus data center in Memphis, Tennessee, shows some of the mobile gas-fired generators used to power the supercomputer. A lawsuit on behalf of the NAACP claims the turbines are... An aerial view of the xAI Colossus data center in Memphis, Tennessee, shows some of the mobile gas-fired generators used to power the supercomputer. A lawsuit on behalf of the NAACP claims the turbines are polluting nearby communities and that Elon Musk's company lacks air quality permits. More Steve Jones/Courtesy SELC, flight by Southwings Anderson said that during that time, Musk's company has added more turbines at the facility as it ramps up computing power at the Colossus site. "It's made us realize, no one else is going to take action so we've got to do it," he said. Anderson said the turbines should be shut down until they are properly permitted. "We believe that a permit that would authorize all of these turbines would, at a bare minimum, require pollution controls that they're not currently using," he said. The SELC said that gas turbines emit smog-forming nitrogen oxide pollution and hazardous chemicals such as formaldehyde, pollutants tied to health problems such as respiratory and heart disease. The Colossus site is in a former electronic manufacturing facility in south Memphis near a predominantly Black community called Boxtown. Air quality in the area is already diminished by other industrial sources of emissions, and health data shows that Boxtown residents have cancer risk that is far higher than the national average. "All too often, big corporations like xAI treat our communities and families like obstacles to be pushed aside," NAACP President Derrick Johnson said in a statement Tuesday. "Billion-dollar companies set up polluting operations in Black neighborhoods without any permits and think they'll get away with it because the people don't have the power to fight back." In a short statement via email, a spokesperson for xAI told Newsweek that the power units are "operating in compliance with all applicable laws" at the Colossus site. "We take our commitment to the community and environment seriously," the spokesperson wrote. On its web site, however, xAI highlights the speed with which the company built Colossus, which it claims is the world's biggest supercomputer. "We took the project into our own hands, questioned everything, removed whatever was unnecessary, and accomplished our goal in four months," xAI said on its site. The company said it has 200,000 graphic processing units (GPUs) in operation and that "this is just the beginning." The legal action against xAI comes at a pivotal moment in the tech industry's race to construct AI data centers and find enough power to operate the energy-intensive computer servers. Next month, President Donald Trump is scheduled to attend an event at Pittsburgh's Carnegie Mellon University focused on powering AI. AI is contributing to a surge in electricity demand, and energy supply has become a limiting factor for data centers as tech companies often face long waits to connect to regional grids. Many companies are instead developing on-site or "behind the meter" energy for data centers, including renewable wind and solar, battery storage, fuel cells and gas-fired mobile turbines. The SELC's Anderson said part of his group's goal is to make sure that AI is powered in ways that don't illegally pollute. "There is a right way to do it and a wrong way," Anderson said. "If it is the wrong way then someone's going to hold them accountable."
West Australian
13-06-2025
- Business
- West Australian
Brazil selects Viridis for slice of $1.37B critical metals fund
ASX-listed Viridis Mining & Minerals has landed a major financial coup by being selected for a potential slice of Brazil's R$5 billion (A$1.37 billion) strategic minerals funding program aimed at fast-tracking the country's clean energy transition. The company's flagship Colossus rare earths project in Brazil's Minas Gerais region, together with associated refining and recycling facilities, will receive support under a prestigious government agency initiative. The Brazilian National Bank for Economic and Social Development (BNDES) and the country's Federal Agency for Funding Authority for Studies and Projects (FINEP) have teamed up in a joint scheme to invest in key energy-transition materials, such as rare earths and permanent magnets. Viridis says its selection marks a massive vote of confidence in the company, as it pushes to build the world's first fully integrated rare earths supply chain outside of China. Management is now gearing up to lock in the deal, with funding set to flow through a mix of grants, debt and, possibly, a strategic equity slice. As China tightens the screws on rare earth exports, putting global supply chains on edge, Viridis' funding news appears particularly well timed. Through its joint venture (JV) entity with fellow listed partner Ionic Rare Earths – dubbed Viridion – Viridian hit a major milestone in May when it produced its first batch of recycled high-purity neodymium, praseodymium, dysprosium and terbium oxides. The JV was established to investigate options for in-country magnet metals recycling. The material was delivered for testing to the 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. The oxides, which are vital ingredients for permanent magnets, were recovered from old magnets and wind turbines in Brazil using cutting-edge technology developed at Ionic's Belfast facility. In addition to the initial R$5B program, Brazil unleashed a second R$3B (A$542M) war chest to target downstream technology and innovation hubs to aid the country's efforts with the energy transition and decarbonisation. Having ticked the box with successful oxide deliveries, Viridis says Viridion is well-positioned to tap into this next wave of government support. Viridis Mining is riding high after unveiling a blockbuster scoping study in February for its Colossus rare earths project in Brazil, forecasting a whopping US$2.28 billion (A$3.59B) in EBITDA over a 20-year mine life. The lion's share of the annual US$114 million (A$180M) EBITDA will come from neodymium and praseodymium production, using spot prices of about US$60 per kilogram. Operating costs at Colossus are projected to come in at just US$6/kg of total rare earth elements, leading to what Viridis believes could become one of the lowest-cost rare earth operations on the planet. As well as hosting a sizeable neodymium-praseodymium resource, Colossus also contains the world's highest measured and indicated grades of dysprosium and terbium of any current ionic clay deposits. The study quietly revealed plans to churn out 146 tonnes of those heavy hitters annually for the first five years, and 156 tonnes each year afterafter. The deposit is also stacked with 6285t samarium, 4125t gadolinium and 13,553t yttrium, which are all included on China's banned list. Meanwhile, the company is advancing a pre-feasibility study with engineering firm Hatch, due to be completed this quarter, and working to secure key environmental licences and offtake agreements. For Viridis, the potential backing from BNDES and FINEP puts it in rarefied company. Meteoric Resources and Ionic are the only two other Australian companies to get the nod for the Brazilian funding. As the global hunt for critical minerals heats up, Viridis appears to be shaping up as a serious contender to redraw the rare earths supply chain, with Colossus fast emerging as the jewel in its crown. With government backing, world-class grades and ultra-low operating costs, the company is gaining real traction in its mission to supply the metals that drive EVs, wind energy and next-generation defence technology. Is your ASX-listed company doing something interesting? Contact:
Yahoo
06-06-2025
- Business
- Yahoo
AI Insider Blows the Lid Off Musk's Secret AI Operation
BALTIMORE, June 06, 2025 (GLOBE NEWSWIRE) -- A mysterious AI complex in Memphis is now being called the most powerful system of its kind — and it wasn't supposed to be public knowledge. In a newly released briefing, bestselling author and tech expert James Altucher reveals the details of a covert AI operation led by Elon Musk that, until now, has gone almost entirely unreported. Known as Project Colossus, the facility was built by Musk's AI company, xAI, and is allegedly housing the highest-density AI computing power in the Western Hemisphere. 'The AI Mothership' Altucher says the project has quietly surpassed every major tech firm in the race for AI dominance — including OpenAI, Microsoft, Meta, and even Nvidia. 'Elon Musk has created the AI mothership… an innovation of such enormous proportion… that he has already surpassed all the leading AI developers.' He adds that the complex is powered by 200,000 high-performance AI chips — and growing. 'Making it the most advanced AI facility known to man.' Buried in a Warehouse. Unleashed by Policy. According to Altucher, the project only became possible after a specific presidential action early in Trump's second term. 'In one of his FIRST acts as President… Donald Trump overturned Executive Order #14110.' That order had previously restricted advanced AI development in the name of safety and oversight. Its removal, Altucher says, opened the floodgates. Not a Tool. A Turning Point. Altucher warns that this isn't just about AI doing tasks faster. This is a leap into self-operating systems that think, react, and solve. 'AI 2.0… gives that knowledge to intelligent machines that I believe will solve our problems for us.' He claims a major update to Colossus — scheduled before July 1 — could mark the moment America enters a new technological era. About James Altucher James Altucher is a computer scientist, entrepreneur, and bestselling author with four decades of experience in artificial intelligence and innovation. His past work includes contributions to IBM's Deep Blue supercomputer and the early development of AI-driven market systems. His recent briefings focus on the intersection of AI, secrecy, and national acceleration. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
