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Euro Manganese achieves key milestone with environmental permit for Chvaletice Manganese Project
(NewsDirect) Euro Manganese Inc President and CEO Dr Matthew James tells Proactive's Step...
About this update from Euro Manganese, Inc.
[{"type":"text","content":"Euro Manganese achieves key milestone with environmental permit for Chvaletice Manganese Project\n \n \n (NewsDirect)\n \n \n \n \n Euro Manganese Inc President and CEO Dr\nMatthew James tells Proactive's Stephen Gunnion that the battery\nmaterials company has achieved a key milestone at its Chvaletice\nManganese Project after receiving approval for its Environmental and\nSocial Impact Assessment from the Czech Ministry of Environment.\n \n \n James told Proactive the Czech project\ninvolves remediating historical mine tailings from a previous pyrite\nmine, containing significant manganese deposits. The company also owns\nland directly opposite the tailings area for a processing plant.\n \n \n The Chvaletice Manganese Project is\nunique for its high-purity manganese, essential for electric vehicle\nbatteries, particularly in NMC (nickel-manganese-cobalt) batteries.\n \n \n James explained that the\nproject's manganese is crucial for the energy transition, boasting\nstrong Environmental, Social, and Governance (ESG) credentials,\nincluding a carbon footprint one-third that of the industry standard\nin China. A completed Definitive Feasibility Study (DFS) in July 2022\nestimated the project's net present value at approximately US$1.3\nbillion.\n \n \n The European Bank for\nReconstruction and Development (EBRD) is the company's\nsecond-largest shareholder, highlighting significant European support\nalongside the European Investment Bank (EIB), which has approved the\nproject for appraisal. Financial strategies include a proposed 65%\ngearing, with funding expected from both the EIB and the EBRD.\nAdditionally, a financing package from Orion Resource Partners\nprovides non-dilutive funding to shareholders.\n \n \n The company is also developing an\nearly-stage project in Quebec, positioning itself within a growing\nbattery materials hub. This project aims to produce IRA-compliant\nhigh-purity manganese sulphate.\n \n \n Upcoming milestones for\ninvestors include further offtake contracts and securing the last land\naccess agreement for their Czech Republic project, having already\nachieved significant environmental approval.\n \n \n \n Contact\nDetails\n \n \n \n \n Proactive North America\n \n \n \n Proactive\nNorth America\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2024 TheNews...