Where Are Viridis (ASX:VMM), West Cobar Metals (ASX:WC1) and Australasian Metals (ASX:A8G) in Their Critical Minerals Programs?

Sonal Goyal

05 November 2026 11:40 AM AEDT

Where Are Viridis (ASX:VMM), West Cobar Metals (ASX:WC1) and Australasian Metals (ASX:A8G) in Their Critical Minerals Programs?

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Key Highlights

Viridis (ASX:VMM) signed a binding offtake with a Solvay group entity for rare earth carbonate from its Colossus project.
West Cobar Metals (ASX:WC1) completed 91 aircore holes for 2,941 metres in its first dedicated scandium drilling campaign.
Australasian Metals (ASX:A8G) appointed a contractor for a 3,000 metre diamond program at its Atex lithium-tantalum project.
The three companies are at different stages, from contracted Marketing to drilling and testwork.

Three ASX-listed companies exploring critical minerals released updates on 5 November 2026. The announcements cover a binding rare earth offtake in Brazil, scandium drilling in Western Australia and a lithium-tantalum diamond program in Côte d'Ivoire.

Viridis Mining and Minerals (ASX:VMM)

Viridis Mining and Minerals (ASX:VMM) executed a binding long-term offtake agreement with Rhodia Operations SAS, part of the Solvay group. The agreement covers mixed rare earth carbonate from the Colossus project, with an initial term from first production, targeted for 2028, to 31 December 2034. Minimum volumes are about 70% of forecast MREC production over the initial term, supporting minimum Revenue of about US$915 million subject to delivery.

West Cobar Metals (ASX:WC1)

West Cobar Metals (ASX:WC1) completed 91 aircore holes totalling 2,941 metres at its Salazar Project in Western Australia. The campaign is the first dedicated scandium program and targets higher grade shallow saprolite zones. Assays are expected before the end of the year, and metallurgical testwork on scandium and rare earths is progressing.

Australasian Metals (ASX:A8G)

Australasian Metals (ASX:A8G) appointed an experienced drilling contractor for a 3,000 metre diamond program at its Atex project in Côte d'Ivoire. About 1,500 metres will target Spodumene Hill and 1,500 metres will test regional prospects. Rig mobilisation is expected in mid-November 2026, and the exploration camp is ready.

Final Word

The three programs sit at different points along the path from exploration to commercial supply. Viridis has a contracted route to market, while West Cobar and Australasian Metals are still testing mineralisation and extraction. Their next announcements, including assay batches and drilling progress, will indicate how each program develops.

Who is the offtaker for Viridis's rare earth carbonate?

The offtaker is Rhodia Operations SAS, a member of the Solvay S.A. group.

How many metres did West Cobar drill?

The company completed 91 aircore holes for 2,941 metres at Salazar.

How is Australasian Metals splitting its drilling?

Approximately 1,500 metres target Spodumene Hill and 1,500 metres test regional prospects.

When is West Cobar's assay timing?

The company expects all assay results before the end of 2026.

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