Why did Viridis choose Hatch for the Colossus Project's scoping study?
Viridis Mining And Minerals Limited
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Why did Viridis choose Hatch for the Colossus Project's scoping study?

Viridis Partners with Hatch for Colossus Project Development

Viridis Mining and Minerals Limited has announced a significant partnership with Hatch Pty Ltd, a leading global engineering and consultancy firm, to conduct a scoping study and provide engineering support for the Colossus Project.

This collaboration aims to leverage Hatch's extensive expertise in rare earth processing and project delivery, particularly from their offices in Perth, Australia, and Belo Horizonte, Brazil. The partnership marks a strategic step for Viridis towards developing its highly prospective rare earth element project in Minas Gerais, Brazil, with the scoping study set to commence in March 2024.

Strategic Engineering Partnership

Hatch has been selected by Viridis for its world-class capabilities in engineering and development consultancy, especially in the rare earth processing sector. With experienced execution offices in both Perth and Belo Horizonte, Hatch is ideally positioned to support the Colossus Project, reflecting Viridis's strategy to engage a partner with a strong track record in rare earth processing and familiarity with the Brazilian context.

Focus on the Colossus Project

The Colossus Project, located in Minas Gerais, Brazil, encompasses highly prospective concessions including Fazenda, Caminho Das Pedras, Central, and Carijo. The project is at the forefront of Viridis's efforts to tap into the rare earth elements market, critical for various high-tech and green technologies.

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The scoping study by Hatch will concentrate initially on these northern concessions, aiming to outline the project's technical and economic viability.

Key Deliverables of the Scoping Study

The comprehensive scoping study will focus on several critical areas:

Processing and production methods, flow rates, mine life, and logistics.
Capital and operating expenditure estimates to understand the financial implications.
A project execution schedule highlighting the critical path to development.
Support for Viridis in project financing, offtake discussions, and execution planning.
Essential technical outputs for regulatory submissions and environmental impact assessments.

Enhancing Project Viability

Viridis CEO Rafael Moreno emphasized the importance of selecting a high-caliber engineering contractor like Hatch early in the development journey to de-risk the project's execution phase, including the environmental approvals process. This partnership is expected to set a global benchmark in environmental standards while optimizing operational costs.

Hatch's Commitment to Excellence

Hatch's Director Metals Australia-Asia, Claude D’Cruz, expressed enthusiasm for working with Viridis on the Colossus Project. Hatch plans to apply its significant expertise in rare earth processing and project delivery experience to ensure the project's success, drawing on its global resources and knowledge base.

\Anticipated Impact and Future Developments

The collaboration between Viridis and Hatch represents a pivotal development in the advancement of the Colossus Project. With the scoping study and engineering support underway, Viridis is well-positioned to navigate the complexities of rare earth element processing and project execution, aiming for a successful outcome that meets global environmental and economic standards.

This partnership not only signifies a major step forward for Viridis but also highlights the growing importance of rare earth elements in the global push for sustainable and high-tech solutions.

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