Firebird Metals (ASX:FRB) is moving closer to its goal of stage-two, low-cost manganese-based cathode material operations, with the granting of a mining lease for its Oakover Project in Western Australia.
The lease is conditional on receiving approval from the Department of Energy, Mines, Industry Regulation and Safety for a mining proposal.
Firebird, which has a market capitalisation of $13.38 million, says its aim is to secure a natural cost advantage in lithium-manganese-iron-phosphate (LMFP) cathode production, particularly by integrating manganese sulphate from its proposed production plant in China.
Oakover development programs will remain focused on completing environmental surveys and reports, as well as mining studies to feed into the mining proposal.
Managing Director Peter Allen says Oakover is a large and near-surface manganese project with robust economics and an 18-year mine life.
“Our vision is to become a global leader in the manganese industry by seamlessly integrating our mining operations and innovative downstream processing solutions, to support the advancement of the lithium-ion and sodium-ion battery sectors,” Allen says.
“The location of our proposed manganese sulphate plant in China, places us at the forefront of this market and with the integration of Oakover will allow us to maintain a competitive advantage by ensuring a 100% owned and secure supply of high-quality manganese feedstock.”
Firebird notes all critical permits for its proposed manganese plant have been obtained by Hunan Firebird Battery Technology, and from the final investment decision the plant is anticipated to be built in less than a year.
The proposed plant will have a production capacity of 50,000 tonnes manganese sulphate, plus 10,000 tonnes of manganese oxide with low capital intensity and operational costs expected for the company’s processing methods.
Around 60% of the required financing has been secured through indicative and non-binding agreements with key partners including China Chemical and China Construction Bank.
Firebird Metals is an advanced manganese-focused developer that is combining mining and downstream processing.
Write to Aaliyah Rogan at Mining.com.au
Images: Firebird Metals
