Element 25 to become key supplier of battery raw materials
August 04, 2023 at 02:41 pm EDT
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Element 25 Ltd (ASX:E25) MD Justin Brown recaps what’s been a significant quarter for the company. It released a feasibility study which revealed what he describes as compelling economics for the proposed first ever US-based battery-grade high-purity manganese sulphate monohydrate (HPMSM) facility in the US.
E25 has also taken another step on the path to producing HPMSM with global automaker Stellantis NV completing its first US$15 million investment in the company.
On January 9, 2023, E25 announced the signing of a binding agreement with Stellantis N.V. to supply battery-grade HPMSM from E25’s proposed USA-based processing facility.
The agreement combines take or pay offtake commitments for 45Kt of HPMSM from the facility over five years with US$30M in two tranches of project funding towards the facility capital cost. Tranche 1 of the funding comprises a US$15M equity investment in E25. The further key commercial terms are outlined in detail in Appendix A to the announcement in January7.
Element 25 is operating the world class 100%-owned Butcherbird Manganese Project in Western Australia and developing battery grade high purity HPMSM products for traditional and new energy markets.
It aims to become an industry leading, world class, low-carbon battery materials manufacturer.
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Proactive Investors
Jonathan Jackson
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jonathan@proactiveinvestors.com
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Element 25 Limited is an Australia-based mineral exploration company. The Company is the operator of the Butcherbird Manganese Project (Project), which hosts onshore manganese resources with Joint Ore Reserve Committee (JORC) resources of more than 260 million tons (Mt) of manganese ore. The Project is located approximately 1,050 kilometers north of Perth and over 130 kilometers south of Newman in the Pilbara region of Western Australia. The Company is developing capabilities by producing high-purity manganese sulphate monohydrate (HPMSM) for sustainable lithium-ion battery cathode manufacture, with several production facilities planned. It is also focused on the Pinnacles Project, which is located approximately 75 kilometers northeast of Kalgoorlie, and over 50 kilometers from the Companyâs Lake Johnston Lithium Project. The Pinnacles Project extends its technology metal thrust targeting the manganese, lithium, and cobalt markets.