Viridis-Ionic Rare Earths Joint Venture Delivers Recycled Rare Earth Element Oxides in Brazil, Viridis Shares Jump 8%

MT Newswires Live

May 27

Viridis Mining and Minerals (ASX:VMM) delivered the first locally-sourced range of recycled magnetic rare earth oxides to a CIT SENAI ITR facility in Brazil through the Viridion joint venture with Ionic Rare Earths (ASX: IXR), according to a Tuesday Australian bourse filing.

The delivered separated rare earth oxides originate from end-of-life magnets recovered in Brazil, primarily sourced from decommissioned magnetic resonance imaging machines and wind turbine generators.

They were collected and underwent initial pre-processing in Brazil before being shipped to Ionic Technologies' facility in Belfast for advanced hydrometallurgical separation.

The rare earth elements included neodymium, praseodymium, dysprosium, and terbium. CIT SENAI ITR will conduct lab-scale experiments to determine if these can be transformed into alloys.

Viridis' shares jumped 8% in recent trading on Tuesday.

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