Euro Manganese (TSXV, ASX: EMN) on Monday announced an offtake term sheet with US-based Wildcat Discovery Technologies for the sale of high-purity manganese product from the Chvaletice project, in Czechia.

Based in San Diego, California, Wildcat has announced the building of a U.S.-based plant expected 2026 – 2027 to produce a portfolio of cobalt/nickel-free cathode materials for electric vehicle battery cells and other markets including stationary storage.

Pursuant to the term sheet, Euro Manganese will deliver manganese to Wildcat for an initial term of seven years, with potential for renewal. The initial term sheet is subject to successful qualification by Wildcat of the manganese product from the Chvaletice demonstration plant.

“This long-term offtake term sheet represents a significant percentage of the planned production of the Chvaletice manganese project over time,” said Euro Manganese president and CEO Matthew James.

Saleable product includes 2.5-million tonnes of HPMSM (32.34% manganese), and 372,300 t of high-purity electrolytic manganese metal (99.9% manganese) over the life of the Chvaletice project, averaging 98,600 t/y of HPMSM and 14,890 t/y of high-purity electrolytic manganese metal.

The Chvaletice project in the Czech Republic is the only sizeable, classified resource of manganese in the European Union. The project entails re-processing manganese deposits contained in waste (tailings) from a decommissioned mine that operated between 1951 and 1975.

Euro Manganese plans to convert the carbonate to high-purity manganese metal and sulphate and send them to its planned processing facility in Quebec, where they will be converted into a liquid sulphate. The site is adjacent to two proposed cathode plants, allowing the liquid sulphate to be piped directly into the cathode production processes.

Shares of Euro Manganese surged 14% by 10:30 a.m. EDT in Toronto. The company has a market capitalization of C$16 million ($12 million).

Source: MINING.COM – Read More