Euro Manganese announces US offtake term sheet
Dual-listed Euro Manganese on Monday announced an offtake term sheet with US-based Wildcat Discovery Technologies for the sale of high-purity manganese product from the Chvaletice project, in Czechia.
Based in San Diego, California, Wildcat’s technology has led to a focus exclusively on nickel- and cobalt-free cathode production. Wildcat has announced the building of a US-based plant, expected in 2026 or 2027, to produce cathode materials for electric vehicle battery cells and other markets.
Pursuant to the term sheet, Euro Manganese will deliver manganese to Wildcat for an initial term of seven years, with potential for renewal. The initial term sheet is subject to successful qualification by Wildcat of the manganese product from the Chvaletice demonstration plant.
“This long-term offtake term sheet represents a significant percentage of the planned production of the Chvaletice manganese project over time,” said Euro Manganese president and CEO Matthew James.
A feasibility study, published in July 2022, has determined that the Chvaletice project is uniquely positioned to provide a secure, traceable and responsibly produced supply of high-purity manganese products.
The study is based on the reprocessing of historic tailings without the requirement of any hard-rock mining, crushing or milling. The study envisages a 25-year operation producing 1.19-million tonnes of high-purity electrolytic manganese metal, about two-thirds of which is expected to be converted into high-purity manganese sulphate monohydrate (HPMSM) on site.
Saleable product includes 2.5-million tonnes of HPMSM (32.34% manganese), and 372 300 t of high-purity electrolytic manganese metal (99.9% manganese) over the life of the project, averaging 98 600 t/y of HPMSM and 14 890 t/y of high-purity electrolytic manganese metal.
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