Vancouver, British Columbia – 9 September 2024 | Euro Manganese Inc. (TSX-V and ASX:EMN; OTCQB:EUMNF; Frankfurt:E06) (“Euro Manganese” or the “Company”) is pleased to announce that it has entered into an offtake term sheet with FeMoCat Ltd (“FeMoCat”), an industrial catalyst manufacturer, for the sale of high-purity manganese sulphate monohydrate (HPMSM) and magnesium carbonate from the Company’s Chvaletice Manganese Project in the Czech Republic.
Highlights:
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Offtake Agreement Signed: Euro Manganese and FeMoCat have entered into a non-binding offtake term sheet for the sale of HPMSM and magnesium carbonate from the Chvaletice Manganese Project. FeMoCat will use these products in its catalyst manufacturing operations in Pardubice, located less than 1 hour’s drive from the project location in the Czech Republic.
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Seven-Year Initial Term: The agreement includes an initial term of seven years, with further potential for renewal. Deliveries are expected to commence from the first production and ramp up as the project’s production capacity increases.
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Local Catalyst Production: FeMoCat, which operates in Pardubice in the Czech Republic, will integrate the products from Euro Manganese into its catalyst and Synthetic Hydrotalcite production. The proximity of the Chvaletice Project to FeMoCat’s operations provides opportunity for local sourcing of sustainable, high-purity manganese.
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Pricing & ESG Credentials: Pricing for HPMSM will be based on an index-adjusted western benchmark price, reflecting the high-quality, secure, traceable, and environmentally sustainable production at Chvaletice, which features a low CO2 footprint and leading Environmental, Social, and Governance (ESG) credentials.
Dr. Matthew James, President & CEO of Euro Manganese, stated: “The demand for Euro Manganese’s high-purity products from the Chvaletice Project continues to accelerate with companies recognising the impending deficit and securing their requirements via an offtake Term Sheet. The fact that FeMoCat requires locally sourced products for their existing operations in Pardubice, and potential for increased tonnages as they evaluate new opportunities, demonstrates the value of having a resource in the heart of Europe. Furthermore, the ability to provide FeMoCat with a valuable magnesium carbonate feedstock, from one of the Project’s by-products, underscores both companies commitments to maximising process efficiency and circularity. We look forward to supplying FeMoCat with fully traceable, responsibly produced products and are proud to be partnering with a company who shares our ambition of seeking to reduce or eliminate the use or generation of hazardous substances in their processes and is focussing on reducing emissions, improving energy efficiency and recycling products, which is at the core of our values.”
Tommy Heino, President & CEO of FeMoCat, added: “This Off-Take secures raw materials for FeMoCat’s expansion at Semtinzone/Rybitvi in Pardubice, for our catalysts and Synthetic Hydrotalcite production, from a local source being only 20 km from Euro Manganese’s plant in Chvaletice. Synthetic Hydrotalcites can be used for multiple downstream applications, and we foresee a 4,000 t/y of production. FeMoCat will also provide the products from Euro Manganese to FeMoCat’s partners and service clients. We look forward to a long lasting and mutually beneficial relationship with Euro Manganese and its great team.”
Dr. Matthew James
President & CEO
mjames@mn25.ca
Neil Weber
Investor and Media Relations – North America
+1 (647) 222-0574
neil.weber@loderockadvisors.com
Jane Morgan
Investor and Media Relations – Australia
+61 (0) 405 555 618
jm@janemorganmanagement.com.au
About us:
About Euro Manganese:
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 an early-stage opportunity to produce battery-grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX Venture and the ASX.
Contact details:
Jane Morgan
Investor and Media Relations – Australia
+61 (0) 405 555 618
jm@janemorganmanagement.com.au