Viridis Mining and Minerals has awarded its first major equipment contract for the Colossus Rare Earth Project in Minas Gerais, Brazil, with Dewater Filter Press responsible for supplying residue pressure filtration equipment. The filtration system is a critical long-lead procurement component for the Colossus processing facility, which is planned for an annual capacity of 5 million tonnes. The company stated that this move marks the project's transition from the development phase to the execution phase, targeting first rare earth production in 2028. Viridis has secured sufficient equity funding sources to cover the equity portion required for project financing.