{"id":100611,"date":"2026-11-10T15:32:08","date_gmt":"2026-11-10T18:32:08","guid":{"rendered":"https:\/\/murray.adv.br\/?p=100611"},"modified":"2026-11-10T15:32:08","modified_gmt":"2026-11-10T18:32:08","slug":"viridis-advances-funding-plans-with-rare-earths-deal-for-europe","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/viridis-advances-funding-plans-with-rare-earths-deal-for-europe\/","title":{"rendered":"Viridis advances funding plans with rare earths deal for Europe"},"content":{"rendered":"<section class=\"content--header\">\n<div class=\"row content-head non-featured \">\n<div class=\"title\">\n<h6 class=\"content-head__title\" style=\"text-align: center\"><em><strong>Offtake agreement with Solvay guarantees cash flow from Brazilian project, helping secure loans<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n<div class=\"content__signa-share\">\n<div class=\"content__signature\">\n<div class=\"content-publication-data\">\n<div class=\"content-publication-data__text\">\n<div class=\"content-publication-data__from\"><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p class=\"content-publication-data__updated\"><time datetime=\"2026-11-05T08:21:03.202-03:00\">11\/10\/2026\u00a0<\/time><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<div id=\"mc-article-body\" class=\"mc-article-body ready cropped\">\n<article>\n<div class=\"no-paywall\">\n<div class=\"row medium-uncollapsed content-media content-photo\" data-block-type=\"backstage-photo\" data-block-id=\"0\">\n<div class=\"mc-column content-media__container\" data-image-display=\"normal\">\n<div class=\"content-media-container\" style=\"text-align: center\">\n<figure class=\"content-media__figure\"><img loading=\"lazy\" decoding=\"async\" class=\"content-media__image\" src=\"https:\/\/s2-valorinternational.glbimg.com\/3cqplL-RTCfmSeeqIhLl-AtoD78=\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_63b422c2caee4269b8b34177e8876b93\/internal_photos\/bs\/2026\/P\/d\/Ou7TOeTAC4CvLrtxLlog\/foto05emp-101-viridis-b4.jpg\" alt=\"Rafael Moreno \u2014 Foto: Divulga\u00e7\u00e3o\" width=\"285\" height=\"364\" \/><figcaption class=\"content-media__description\"><em>Rafael Moreno \u2014 Photo: Divulga\u00e7\u00e3o<\/em><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mc-column mc-side-item__container\" data-block-type=\"ads\" data-block-id=\"1\"><\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"80\" data-block-id=\"2\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Australian mining company <strong>Viridis<\/strong> signed a <strong>rare earths offtake agreement<\/strong> on Wednesday (November 4) to supply material from its project in Minas Gerais to Belgian chemicals company <strong>Solvay\u2019s <\/strong>plant in La Rochelle, France. The seven-year deal is expected to begin with shipments in 2028 and ensures the miner will have a source of cash flow once operations start. The project requires an investment of $449 million (R$2.4 billion at the current exchange rate) and is still in the pre-production stage.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"75\" data-block-id=\"3\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The agreement is important because it will serve as a guarantee for banks with which the miner is in talks to secure loans\u2014a challenging but crucial step for projects that have yet to begin production. \u201cIf you don\u2019t have guaranteed cash coming in, nobody wants to lend you money,\u201d <strong>Rafael Moreno<\/strong>, Viridis\u2019s CEO, told <strong>Valor<\/strong>. \u201cWe wouldn\u2019t exist in 2030 if we couldn\u2019t secure the offtake agreement; without it we can\u2019t get financing,\u201d he added.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"50\" data-block-id=\"5\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The miner\u2019s project is part of Brazil\u2019s nascent rare earths industry and is considered one of the next developments likely to begin operating. The only rare earths mine currently in commercial operation in the country belongs to Minera\u00e7\u00e3o Serra Verde, which was sold this year to U.S.-based <strong>USA Rare Earth<\/strong>.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"63\" data-block-id=\"6\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Viridis\u2019s project is located in the Po\u00e7os de Caldas Alkaline Complex, a geological formation associated with an ancient volcano in Minas Gerais. The area is also home to a rare earths project owned by another Australian company, <strong>Meteoric Resources<\/strong>, which has planned investments of $498 million (R$2.7 billion). Last month, Meteoric announced its sale to Lynas in a deal valued at R$3.5 billion.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"43\" data-block-id=\"7\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The partnership between the Australian miner and the Belgian chemicals company, announced on Wednesday, comes as Western countries seek to break China\u2019s dominance of the rare earths supply chain. Refining, one of the industry\u2019s most complex stages, remains largely concentrated in China.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"39\" data-block-id=\"8\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Solvay\u2019s plant in France, Europe\u2019s first industrial-scale rare earths processing facility and one of the largest outside China, will refine Viridis\u2019s rare earth carbonates\u2014an intermediate product from the mineral processing stage\u2014and turn them into individual oxides with industrial applications.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"63\" data-block-id=\"9\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Under the agreement, Viridis will supply Solvay with at least approximately 70% of its output of light rare earths neodymium and praseodymium, as well as the heavy rare earths dysprosium and terbium. Solvay will also have a right of first offer on the remaining production. The miner expects to produce a total of 2,960 tonnes of rare earth oxides contained in carbonates annually.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"42\" data-block-id=\"10\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The Belgian chemicals company will also license its technology and support Viridis in producing the carbonates. \u201cThe agreement allows us to move further down the processing chain in Brazil, as we are bringing its solvent extraction technology to the country,\u201d Moreno said.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"66\" data-block-id=\"12\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Viridis plans to back the project with a capital structure comprising 70% debt and 30% equity. It secured the equity portion in August, raising $154 million (R$843.4 million). The amount includes the company\u2019s own cash, investment commitments from global asset manager One Investment Management (OneIM) and institutional investors, including unnamed Brazilian investors, as well as advance funding commitments from Brazilian asset managers ORE and R\u00e9gia Capital.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"55\" data-block-id=\"13\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Securing most of the remaining investment through debt remains the company\u2019s biggest challenge. Viridis has already received formal support from export credit agencies in France, Australia, and Canada. It said it is also in talks with European lenders, including the European Investment Bank (EIB), and three Brazilian banks, among them the Brazilian Development Bank (BNDES).<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"66\" data-block-id=\"14\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cThe EIB has visited the project in Brazil several times, and they are strong supporters of the venture,\u201d Moreno said. \u201cEven with the banks we are talking to, including BNDES, if there is no guaranteed cash coming in, nobody will lend you money,\u201d he added. In September, the company announced it had secured R$77.5 million in financing from the Brazilian development bank for its pilot plant.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"35\" data-block-id=\"15\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The project\u2019s final investment decision still depends on completing the debt financing package and obtaining an installation license from Minas Gerais\u2019s environmental agency. Viridis expects the permit to be issued by December or January 2027.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"78\" data-block-id=\"16\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Asked whether Lynas\u2019s acquisition of Meteoric could pave the way for a wave of consolidation and whether Viridis itself would consider a merger or sale, Moreno said the deal validates Brazilian projects but stressed that the company\u2019s priority is to remain independent until production begins. \u201cIf consolidation becomes the best option for shareholders, we will consider it. But for now, our entire focus is on production, and we have no plans for a change of control,\u201d he said.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"61\" data-block-id=\"18\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Moreno also praised Brazil\u2019s National Policy on Critical and Strategic Minerals (PNMCE), enacted in September to accelerate investment in the sector. The policy is due to be fully regulated by December. The executive said he was not concerned that the Solvay agreement, which already commits more than two-thirds of the project\u2019s output to Europe, might raise concerns within the federal government.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"73\" data-block-id=\"19\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cThe day they do that [intervene], not another dollar will come into Brazil. I think they understand that, so I\u2019m not worried. Expectations are clear, and we are doing what was asked of us: bringing processing technology into the country,\u201d he said. \u201cBesides, there isn\u2019t even domestic demand for this material at the moment. So even if I sell the remaining 30%\u2014which we will probably do in Brazil\u2014where would it go?\u201d he added.<\/p>\n<p data-track-category=\"Link no Texto\" data-track-links=\"\">*By\u00a0Michael Esquer\u00a0\u2014 S\u00e3o Paulo<\/p>\n<p data-track-category=\"Link no Texto\" data-track-links=\"\">Source: Valor International<\/p>\n<p>https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Offtake agreement with Solvay guarantees cash flow from Brazilian project, helping secure loans &nbsp; &nbsp; &nbsp; &nbsp; 11\/10\/2026\u00a0 Rafael Moreno \u2014 Photo: Divulga\u00e7\u00e3o Australian mining company Viridis signed a rare earths offtake agreement on Wednesday (November 4) to supply material from its project in Minas Gerais to Belgian chemicals company Solvay\u2019s plant in La Rochelle, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[27258,27257],"class_list":["post-100611","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-rare-earths-deal-for-europe","tag-viridis-advances-funding-plans"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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