According to a report by MiningNews.net, Meteoric Resources and Viridis Mining & Minerals have been included on the list of companies eligible for the Strategic Mineral Funding Program, which has a total budget of 5 billion reais and is funded by the Financiadora de Estudos e Projetos (Finep) and the National Bank for Economic & Social Development (BNDES). The program aims to strengthen the supply chains for strategic minerals and promote investment in the production, research, development, and innovation capabilities related to critical minerals.

Meteoric Resources has submitted an application for the expansion and obstacle-clearing efforts of the Caldeira rare-earth project, as well as for the construction of a pilot plant and downstream rare-earth separation and processing facilities.

Veridis is focusing its funding application on rapidly advancing the development of the Colossus and Viridion projects. The company’s partner is Ionic Rare Earths.