Euro Manganese (ASX:EMN) has ticked off another permitting milestone with the receipt of a determination of mining lease permit for its Chvaletice Manganese Project in the Czech Republic.
Shares climbed over 21% to an intra-day high of $0.04 following the news today (24 January).
The company says the permit – issued by the District Mining Authority for the regions of Hradec Králové, Pardubice, Liberec, and Vysočina – represents one of the most significant approvals in its journey towards full project permitting.
“A key asset for the company, the permit grants exclusive, unrestricted legal rights to extract mineral resources with no expiration date,” Euro Manganese interim CEO Martina Blahova says.
“This brings Euro Manganese closer to establishing a commercial-scale facility for the production of high-purity manganese – an essential material for the transition to a greener economy and the global effort to decarbonise our planet.”
This paves the way for Euro Manganese, which has a market capitalisation of $13.69 million, to advance the next phases of the Chvaletice Project, which will recycle historic tailings into high purity manganese.
The project is expected to produce 16,000 tonnes per annum of high purity electrolytic manganese metal and 100,000 tonnes per annum of high purity manganese sulphate monohydrate over 25 years.
This is tipped to give the project a net present value of $1.3 billion and internal rate of return of 22%, with the generation of $554 million in average revenue each year over the life of the operation.
The demonstration plant was recommissioned in October 2024, producing material to specification and performing 30% above production targets.
The Chvaletice Project is the only new high purity manganese project outside China to have a fully operational demonstration plant, according to Euro Manganese.
Euro Manganese is a battery materials company focused on becoming a producer of high purity manganese for the electric vehicle industry.
The company is also investigating an early stage opportunity to produce battery grade manganese products in Bécancour, Québec.
Write to Angela East at Mining.com.au
Images: Euro Manganese
