VANCOUVER, British Columbia, March 25, 2025 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF; Frankfurt: E06) (the "Company") today announced that the Chvaletice Manganese Project (the "Chvaletice Project" or the "Project") has been designated a Strategic Project under the European Union’s Critical Raw Materials Act (“CRMA”).
Highlights
- Chvaletice Manganese Project designated a Strategic Project under the EU Critical Raw Materials Act
- Strategic Projects benefit from potential access to numerous private and public sources of funding, including the European Investment Bank, the European Bank for Reconstruction and Development and private financial institutions
- Permitting processes proceed according to deadlines set in the CRMA, decreasing scheduling risk related to permitting
- Milestone achievement represents significant endorsement of the importance of the Chvaletice Manganese Project to EU strategic and critical raw material supply independence
Strategic Project Designation
Strategic Projects under the EU CRMA gain access to guidance and potential funding from numerous private and public sources including the European Investment Bank (“EIB”), the European Bank for Reconstruction and Development (“EBRD”) and private financial institutions and enables regional and national authorities to make use of funding from the European Development Fund and Cohesion Fund. Additionally, Strategic Project status ensures that permitting processes proceed according to the deadlines set in the CRMA, decreasing the scheduling risk related to permitting.
The CRMA, which took effect in May 2024, lists more than 30 raw materials and defines high-purity manganese (battery grade) as a strategic raw material, and manganese as a critical raw material. Strategic Projects are designated to make a meaningful contribution to the security of the EU’s supply of strategic raw materials, to safeguard the functioning of the internal market and to diversify Europe’s supplies from third countries.
In March 2024, Euro Manganese received approval of the Environmental and Social Impact Assessment ("ESIA") for the Chvaletice Project from the Czech Ministry of Environment, and in January 2025, the Company secured the Determination of Mining Lease permit, which represents one of the most significant approvals in the process towards full permitting. Additionally, in March 2025, the Czech government declared the Chvaletice Manganese Deposit as strategic.
Martina Blahova, Interim CEO of Euro Manganese, commented:
"Achieving Strategic Project status with the EU’s CRMA enhances Euro Manganese’s role in Europe’s raw materials value chain, facilitating access to government-backed funding, collaboration with EU institutions, and expediting permitting. Euro Manganese aims to play a crucial role in establishing a sustainable and climate-friendly battery value chain in Europe. Today’s announcement reaffirms our commitment to becoming the sole integrated European producer of high-purity manganese, an essential component in the transition to a greener economy.”
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 exploring 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 TSXV and the ASX and is also traded on the OTCQB.
Authorized for release by the Interim CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.
Enquiries
Martina Blahova
Interim Chief Executive Officer
+1 (604) 681-1010
[email protected]
LodeRock Advisors
Neil Weber
Investor and Media Relations – North America
+1 (647) 222-0574
[email protected]
Jane Morgan Management
Jane Morgan
Investor and Media Relations – Australia
+61 (0) 405 555 618
[email protected]
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website:www.mn25.ca
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Such forward-looking information or statements include, but are not limited to, statements regarding the Company’s intentions regarding the development and advancement of the Project, ability of the Company to proceed with the Project’s next phases, achieve full Project permitting, receive any benefits related to the Project being designated a Strategic Project, including ability to access private and public sources of funding, decrease in scheduling risk related to permitting, and other benefits due to Strategic Project status. Forward looking statements also include the ability of the Company to construct its facility for producing high-purity manganese and finance the development of the Project.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
All forward-looking statements are made based on the Company's current beliefs including various assumptions made by the Company and information currently available to the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to the ability to obtain, amend, or maintain necessary licenses, or permits; risks related to acquisition of surface rights; risks related to granting security; securing sufficient offtake agreements; the availability of acceptable financing for developing and advancing the Chvaletice Project and for continued operations; the availability and reliability of equipment, facilities, and suppliers necessary to complete development; the ability to develop adequate processing capacity with expected production rates; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) battery markets and chemistries; and risks related to fluctuations in currency exchange rates, changes in laws or regulations; and regulation by various governmental agencies. For a further discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information form for the year ended September 30, 2024, available on the Company's SEDAR+ profile at www.sedarplus.ca.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
