Thras Moraitis CEO SERRA VERDE
Can you introduce Serra Verde?
Serra Verde's mission is to accelerate the supply of critical materials needed for the clean energy transition by producing rare earth elements, crucial for permanent magnets used in EVs, wind generators and other technologies essential for clean energy. What makes Serra Verde a world-class resource?
It is the largest known ionic clay resource outside of Asia and can support a 25-year mine life at our Phase 1 production capacity of 5,000 t/y of rare earth oxides. There is also the potential to double mine production within the next decade. As an ionic clay deposit with a high proportion of heavy rare earths, Serra Verde offers operational advantages, including ease of mining and processing with benign reagents that mean we have lower operational risk and environmental impacts than hard rock operations. It’s important to note that Serra Verde is now the only scale producer outside of Asia of the four critical rare earths used in the production of permanent magnets.
The site also benefits from excellent infrastructure, including 100% hydroelectric power, proximity to freeways for logistics to ports and a nearby town which supports the operation with skilled labor and services. As a result of these inherent qualities, we believe that we can become the most sustainable producer of rare earths in the world. What is your view on the current mining regulatory environment in Brazil?
The federal government clearly recognizes Brazil's potential to be a global leader in the provision of clean energy materials due to its diverse resources of critical materials and are taking the right steps to support the sector’s development. Can you provide a perspective on Serra Verde's next 12 to 18 months?
We have ambitious plans to become the most sustainable and strategically important producer of all four magnetic rare earths in the world. Investing in building scale and developing our various growth options are our first priorities.
Stephen Burega President APPIA RARE EARTHS & URANIUM CORP
Could you summarize the company's history and recent developments?
Appia Rare Earths and Uranium Corp was founded in 2012, and until recently, was primarily focused on uranium and rare earth projects in Canada. In early 2023, Appia entered into a well-structured transaction on a very promising ionic absorption clay project near Iporá, in the state of Goiás. We quickly assessed its potential, investing $1 million in the first year. We delineated a significant mineral resource estimate (MRE), including an inferred total of 46.6 million t with an average grade of 2,888 ppm TREO and indicated total of 6.6 million t with an average grade of 2,523 ppm TREO. This project is extremely important to the company as it leverages Brazil's natural advantages in mineral production cost-efficiency, which is crucial for the global market.
Additionally, the project's location offers excellent infrastructure support—roads, power, water—and, very importantly, strong local community support. Disorbability is critical in ionic absorption clay projects. This refers to the ability to efficiently release ions of rare earths from the exterior of the molecules. Achieving rapid desorption ideally within 10-15 minutes ensures optimal material utilization and product quality. The kinetics of the PCH project appears to be very quick which in turn will position us competitively in the market. Our approach on the ground at the PCH project has fostered solid relationships with our local farm owners, further enabling smooth operations and governmental buy-in from local to federal levels. Can you discuss transitioning from uranium projects in Canada to rare earths in Brazil?
Unlike many other mining jurisdictions, where timelines can span a decade from project identification to mining, Brazil offers cost-effective and efficient processes unmatched elsewhere. Brazil's proactive approach, especially in critical minerals (including rare earths) and the commitment being proposed for in-country beneficiation, demonstrates a strong commitment to global leadership in this sector.