Viridis claims ‘world record’ in rare earth recovery at Colossus
The company stated that it has achieved the highest overall bulk ionic recoveries globally, with rates as high as 67%, in its Colossus project in Brazil.
The government also set the royalty for niobium at 3% of the average sale price, and for rare earth elements at 1% of the average sale price of rare earth oxide.
The Minerals Security Partnership (MSP) formed last year by 14 governments aims to ensure adequate supplies of minerals such as lithium and rare earths to meet zero-carbon goals.
The Vancouver-based miner aims to produce an average of 25,000 tonnes of rare earth oxides per year, approximately 10% of the world’s current production.
US Energy Secretary Jennifer Granholm said the world is up against a dominant supplier of critical minerals willing to exploit its position for political gain.