11:08 AM EDT, 10/09/2025 (MT Newswires) -- Verde AgriTech ( VNPKF ) said Thursday that drilling has started at its rare earth discovery in Alto Paranaiba, Minas Gerais, Brazil.

A second rig is scheduled to arrive Oct. 11, with a third rig expected to mobilize about Oct 24.

"Over the past 15 years we've established, in this region of Minas Gerais, the right team and equipment, lab capacity, including power and road infrastructure to advance our projects quickly," said Cristiano Veloso, chief executive officer. "Building on the recently announced district scale discovery-characterized by high TREO and magnet grade MREO . . . we are accelerating this new rare earths project in a disciplined, cash efficient way that does not compromise our low carbon fertilizer business."

The company will release more details Oct. 14.

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