Australia's Viridis gets support for up to $50 million funding for Colossus project

Reuters

01/06

By Roberto Samora

SAO PAULO, Jan 5 (Reuters) - Viridis Mining and Minerals VMM.AX said on Monday that the Australian miner had received a non-binding letter of support from Export Finance Australia $(EFA)$ for a potential funding of up to $50 million for its Colossus rare-earth minerals project in Brazil.

"Securing a non-binding letter of support from EFA represents the final cornerstone in our Colossus debt financing strategy," managing director Rafael Moreno said in a statement.
The Colossus project last month received a preliminary environmental license from Brazil's southeastern state of Minas Gerais.

(Reporting by Roberto Samora; Writing by Andre Romani; Editing by Kylie Madry)

((Roberto.Samora@thomsonreuters.com 5511 98122-7375))

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