Viridis Mining Signs Binding Agreement with Electricity Distributor for Brazil Rare Earth Project Power Transmission Infrastructure

MT Newswires Live

Jun 04

Viridis Mining and Minerals (ASX:VMM) signed a binding agreement with a municipal electricity distributor to deliver a dedicated power transmission infrastructure necessary to connect the Colossus rare earth project to the Brazilian electricity grid, according to a Thursday Australian bourse filing.

The agreement includes the licensing, engineering, procurement, and construction of a dedicated 3.2-kilometer, 138-kilovolts high-voltage transmission connection from the nearby Saturnino substation to the Colossus project, as well as an initial reserved power allocation of 27 megawatts to support stage one operations.

It secured reserved grid capacity commencing from December 2027. It also received tenders for key electrical infrastructure packages, including power transformers, electrical switch rooms, and associated process plant infrastructure.

The connection works package is valued at around 3.97 million Brazilian real, per the filing.

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