Solvay Partners with Viridis for Rare Earth Extraction in Brazil

Belgian firm Solvay has finalized a long-term contract with Australian miner Viridis Mining and Minerals. The goal is to supply the La Rochelle processing facility with ores extracted from the Colossus project in Poços de Caldas, Minas Gerais.

Shipments of mixed rare earth carbonate are scheduled to begin in 2028 and run through the end of 2034. Solvay has secured about 70% of the projected output from the Brazilian mine. The contract sets base prices for magnetic elements and guarantees an estimated 915 million dollars in revenue for the miner between 2029 and 2034.

This move is part of a global strategy to diversify supply chains for essential materials. China currently holds majority control over global mining and refining, which creates concerns for powers like the United States and European nations. The Pentagon plans to restrict the purchase of Chinese components starting in January.

Beyond supply, the companies are discussing technology transfers for local processing in Minas Gerais. Solvay intends to provide technical support to increase the value of the material produced in Brazil. The initiative seeks to strengthen Western autonomy in manufacturing magnets used for electric vehicles and military equipment.