Euro Manganese Seeks Strategic Project Status under CRMA
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Euro Manganese Submits Application for Strategic Project Status
HIGHLIGHTS
- Application submitted for Chvaletice Manganese Project designation
- CRMA aims for sustainable availability of raw materials
- Strategic Project benefits include potential funding and expedited permitting
- Announcement of Strategic Projects expected in December 2024
Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF; Frankfurt: E06) has officially submitted an application to the European Union for its Chvaletice Manganese Project to be classified as a Strategic Project under the EU's Critical Raw Materials Act (CRMA). This application demonstrates the Company’s commitment to enhancing its role in Europe's raw materials supply chain, particularly for the electric vehicle segment.
The CRMA, which came into effect recently, was created to ensure a sustainable supply of essential raw materials for the green transition in Europe. The act identifies over 30 critical materials, including high-purity manganese, which is vital for battery production. Qualifying as a Strategic Project under this framework could significantly boost Euro Manganese's operational and financial opportunities.
Among the key benefits of receiving Strategic Project status, the Company anticipates potential access to a diverse array of financial support from national banks, EU institutions, as well as regional and private sources of funding. Moreover, it facilitates smoother permitting processes which are crucial for minimizing delays and risks associated with regulatory approvals.
Dr. Matthew James, President & CEO of Euro Manganese, stated:
“The submission of our application signifies an important milestone for Euro Manganese. Achieving this status will not only reinforce our position within the EU's raw materials value chain but also grant us access to crucial government-backed funding and collaborations, which are essential for the advancement of our Project.”
Euro Manganese is pursuing its goal of becoming a leading supplier of high-purity manganese specifically for the electric vehicle industry. Through the development of the Chvaletice Manganese Project in the Czech Republic, the Company is poised to capture a significant stake in the European market.
The Chvaletice Project presents a unique opportunity for waste-to-value processes by reprocessing outdated tailings from a previously operational mine. This initiative not only contributes to the recovery of manganese but also plays a critical role in supporting the transition towards a low-carbon economy by ensuring the availability of essential materials required for battery production.
With the European Commission expected to finalize and announce the first list of Strategic Projects under the CRMA by December 2024, Euro Manganese is strategically positioned to stand out among competitors vying for this designation.
Authorized by the CEO of Euro Manganese Inc., this announcement highlights the Company’s commitment as it marches towards securing its place in the dynamic landscape of battery material production.
Company Contacts:
Dr. Matthew James
President & CEO
Email: mjames@mn25.ca
LodeRock Advisors
Neil Weber
Investor and Media Relations – North America
Phone: +1 (647) 222-0574
Email: neil.weber@loderockadvisors.com
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
Phone: +61 (0) 405 555 618
Email: jm@janemorganmanagement.com.au
Frequently Asked Questions
1. What is the significance of the CRMA?
The Critical Raw Materials Act is designed to ensure the sustainable availability of essential raw materials critical for Europe's economy, focusing on materials needed for green technologies.
2. What are the benefits of being designated a Strategic Project?
Benefits include potential access to public and private financing, assurance of expedited permitting processes, and increased collaboration opportunities with EU institutions.
3. What is the Chvaletice Manganese Project?
The Chvaletice Project involves the reprocessing of old tailings from a decommissioned mine to produce high-purity manganese suitable for battery production.
4. Who is the CEO of Euro Manganese?
The CEO of Euro Manganese is Dr. Matthew James, who is leading the Company in its strategy to become a prominent producer of battery materials.
5. How does the Chvaletice Project contribute to the electric vehicle industry?
The project provides a critical supply of high-purity manganese necessary for the production of batteries, thereby supporting the growth of the electric vehicle industry and the shift towards sustainable energy.
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