Australia's Viridis gets support for up to $50 million funding for Colossus project
Reuters
Jan 06
Australia's Viridis gets support for up to $50 million funding for Colossus project
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)
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