VANCOUVER, British Columbia (March 25, 2024) – Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the "Company" or "EMN") today provided follow up commentsto the Company’s announcement dated March 20, 2023 regarding the European Commission’s proposed Critical Raw Materials Act (“CRMA” or the “Act”), which outlines how the European Union (the "EU") intends to ensure a secure and sustainable supply of critical raw materials that are essential in supporting the energy transition. With the Council of the EU’s (the “Council”) recently announced final approval of the CRMA, Euro Manganese’s Chvaletice Manganese Project (the "Chvaletice Project" or the "Project") in the Czech Republic positions the Company to become the only European producer of high-purity manganese for use in the battery supply chain.
Highlights
- The Council of the European Union has given final approval to the Critical Raw Materials Act.
- A statement from the Council outlined this approval as the final stage in the process of formally implementing the Act.
- The final text, officially adopted on March 18, 2024, identifies two lists of materials (34 critical and 17 strategic), that are crucial for green and digital transitions.
- High-purity manganese (battery grade) listed as a strategic raw material, and manganese listed as a critical raw material. “Manganese – Battery Grade” was listed as a strategic raw material, which recognizes its importance in meeting Europe’s decarbonization efforts and in defence and space applications. Manganese was listed as a critical raw material, which are those considered to be of high economic importance and high supply risk to the EU.
- Chvaletice Project supports EU requirements for local extraction, processing, and use of recycled raw materials. The Act sets out three benchmarks for domestic mining, processing, and recycling and the Company believes the Project satisfies all three requirements.
- To strengthen the EU’s raw materials value chain, the CRMA established the concept of Strategic Projects, which are those that will make a meaningful contribution to the security of the EU’s supply of strategic raw materials. The Chvaletice Project meets the criteria for recognition as a Strategic Project, and the Company intends to submit an application for recognition of the Project as a Strategic Project as soon as the application process opens, which in turn will allow the Project to qualify for priority permitting and expand access to funding.
Dr. Matthew James, President & CEO of Euro Manganese, commented:
“We are pleased to see the EU’s approval of the Critical Raw Materials Act and view this as a key milestone towards securing access to critical raw materials to support the energy transition. This announcement, in combination with the expected approval of the Environmental and Social Impact Assessment for our Chvaletice Project, position Euro Manganese to become the only European producer of high-purity manganese in the battery value chain.”
About us:
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic and exploring an early-stage opportunity to produce batterygrade manganese products in Bécancour, Québec.
Contact details:
Jane Morgan