Evion Group (ASX:EVG) says its Maniry Graphite Project in southern Madagascar is well positioned within the emerging US-Africa critical minerals corridor following updates to US trade policy that prioritize African critical minerals.
The US Senate recently passed a three-year extension of the African Growth and Opportunity Act (AGOA), carrying the program through to 31 December 2028.
New provisions direct the US Government to prioritise and streamline access to and processing of critical minerals from eligible African nations to reduce dependence on Chinese supply chains.
Notably, Madagascar has been named one of 33 sub-Saharan African countries designated as an AGOA beneficiary.
Evion says this development reinforces the company’s US Government engagement strategy, especially following its recently announced acceptance into the Cornerstone Consortium.
The consortium is a US Department of Defence public-private industrial base vehicle designed to strengthen American supply chain resilience.
Managing Director David Round reinforces the strategic alignment of recent company updates with US policy.
“We have [Maniry] in Madagascar that the European Union has already designated as strategic, an operating graphite processing business shipping into the United States, and a seat inside the Department of Defence industrial base consortium,” Round says.
“Very few companies of our size sit across those three positions.”
Evion says it is currently in talks with strategic, offtake, and financing partners as it advances Maniry towards development and construction, with a final investment decision as one of its key goals.
Maniry has already secured mining permits across key areas defined in its Definitive Feasibility Study, which outlines a pre-tax net present value of US$263 million ($373 million) at an 8% discount rate, a 33% pre-tax internal rate of return (IRR), and a 21-year mine life.
Evion Group is a critical minerals company focused on mining, exploring, and supplying graphite and fluorspar, with a mine-to-market supply chain across Madagascar, India, Europe, and the US.
Write to Paula Fabe at Mining.com.au
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