{"id":6654,"date":"2024-03-04T01:51:38","date_gmt":"2024-03-04T01:51:38","guid":{"rendered":"https:\/\/economicherald.net\/?p=6654"},"modified":"2024-03-04T01:51:38","modified_gmt":"2024-03-04T01:51:38","slug":"viridis-locks-in-two-government-level-mous-to-fast-track-development-of-its-colossus-ree-project-in-brazil","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6654","title":{"rendered":"Viridis locks in two government-level MOUs to fast-track development of its Colossus REE project in Brazil"},"content":{"rendered":"<p>VMM signs key agreement with Invest Minas and the Municipality of Po\u00e7os De Calda, expected to expedite the regulatory and environmental approvals process<br \/>\nThis dual agreement places Colossus amongst a select group of high-quality mining projects in the mineral-rich state of Minas Gerais<br \/>\nA similar agreement was previously signed between Invest Minas and Sigma Lithium Resources<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Rare earths hopeful Viridis Mining has received the support of the State of Minas Gerais and the local municipality of Po\u00e7os De Caldas via two crucial, non-binding MoUs which pave the way for its Colossus project to clear regulatory and infrastructure hurdles. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/viridis-mining-and-minerals-vmm\/\">Viridis Mining (ASX:VMM)<\/a> is moving quickly with exploration and development at the \u00a0Colossus ionic adsorption clay rare earth (REE) project in Brazil, having raised $4.5m through a heavily oversubscribed placement in February to expand exploration work and finalise a maiden resource.<\/p>\n<p>Colossus, directly adjacent to <a href=\"https:\/\/stockhead.com.au\/company\/meteoric-resources-mei\/\"><strong>Meteoric Resources\u2019 (ASX:MEI)<\/strong><\/a>\u00a0 409MT Caldeira project, is early stage but is already shaping as a high-grade opportunity for VMM after the third batch of assay results from maiden drilling returned an average 3,002ppm TREO result across 113 drill holes.<\/p>\n<p>VMM has now inked two non-binding memorandum of understanding agreements (MoUs) with the State Government of Minas Gerais and the local Municipality of Po\u00e7os De Caldas, as well as the State Secretariat for Economic Development and the Instituto de Desenvolvimento Integrado de Minas Gerais (Invest Minas), to fast-track its flagship project\u2019s development.<\/p>\n<p>Pic: Supplied<\/p>\n<p>\u00a0<\/p>\n<h2><strong>De-risking development timeline <\/strong><\/h2>\n<p>Regulatory approvals are typically one of the biggest risks on any project, and to have the backing and support from state and local governments to prioritise the approvals and licensing process will go a long way in de-risking VMM\u2019s development timeline for Colossus.<\/p>\n<p>The MoU with the Government of Minas Gerais and Invest Minas is a selective initiative from the State to form strategic partnerships with private companies that will strengthen the local economy.<\/p>\n<p>Meanwhile, the selection by Invest Minas at such an early stage in the development journey highlights the importance of the Colossus project at local, state and federal levels.<\/p>\n<p>Pic: Supplied<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Similar dual agreement signed with Sigma Lithium <\/strong><\/h2>\n<p>This dual agreement places Colossus amongst a select group of high-quality mining projects in the mineral-rich state of Minas Gerais.<\/p>\n<p>A similar agreement was previously signed between Invest Minas and Sigma Lithium Resources (NASDAQ: SGML, TSXV: SGML) which led to the rapid development, licensing and construction of the Grota Do Cirilo project to first production in a matter of years.<\/p>\n<p>The signing event was hosted at the Palace Casino, Po\u00e7os De Caldas and was attended by numerous industry leaders, local community figures, government bodies, politicians and journalists.<\/p>\n<p>Viridis In-Country Team and Executives present during the signing ceremony. Pic: Supplied (VMM)<\/p>\n<p><strong>\u00a0<\/strong><strong>\u00a0<\/strong><\/p>\n<h2><strong>\u2018Nothing less than extraordinary\u2019<\/strong><\/h2>\n<p>\u201cThe interaction and support from the Government of Minas Gerais and its economic development arm of Invest Minas, and the town of Po\u00e7os De Caldas has been nothing less than extraordinary,\u201d VMM chief executive Rafael Moreno says.<\/p>\n<p>\u201cThe recent signing ceremony attended by Minas Gerais State Governor Romeu Zema Neto, Director of Invest Minas Ronaldo Barquete and Mayor of Po\u00e7os de Caldas Sergio Ant\u00f4nio de Azevedo is clear evidence of the intent from all parties to accelerate the Colossus Project through the various development stages.\u201d<\/p>\n<p>Viridis executives and industry figures post the signing ceremony. Pic: Supplied (VMM)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Attracting local investment<\/strong><\/h2>\n<p>\u201cThe project foresees the possibility of an ore processing and treatment plant on the site,\u201d Secretary of State for economic development Fernando Passalio says.<\/p>\n<p>\u201cThis will boost the attraction of other companies that use these elements as raw materials for products and will strengthen the production chain as well as generate more jobs and revenue.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Viridis Mining, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/viridis-locks-in-two-government-level-mous-to-fast-track-development-of-its-colossus-ree-project-in-brazil\/\">Viridis locks in two government-level MOUs to fast-track development of its Colossus REE project in Brazil<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>VMM signs key agreement with Invest Minas and the Municipality of Po\u00e7os De Calda, expected to expedite the regulatory and environmental approvals process This dual <a href=\"https:\/\/economicherald.net\/?p=6654\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6655,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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