Viridis Mining and Minerals has secured commitments for up to nearly $120m (A$170m) in strategic equity funding to support the execution of its Colossus rare earth project in the State of Minas Gerais, Brazil.
The funding consists of investments from One Investment Management (OneIM), ORE Investments (ORE), Régia Capital and a group of existing institutional shareholders
The financial support is set to provide Viridis with more than $150m in identified equity funding, surpassing the company’s projected requirement of $135m for the Colossus project under its proposed financing structure. Colossus covers 228.62km² of licensed areas in and around the Poços De Caldas Alkaline Complex. Viridis plans to use a 70% senior debt and 30% equity blend to fund the estimated $449m in development capital detailed in its definitive feasibility study (DFS).
OneIM, a global alternative investment manager, has agreed to provide up to $75m in two tranches, becoming a significant institutional investor as the Colossus project moves from feasibility into execution. Meanwhile, ORE and Régia will expedite a $5m tranche of their ongoing investment previously scheduled for November 2026, leaving $20m still available under the existing arrangement. An additional commitment of $40m has come from a select group of institutional investors, mainly from Brazil.