–News Direct–
Element 25 Limited managing director Justin Brown joined Steve Darling from Proactive to share news the company has provided an update on the planned construction of the first North American commercial scale battery grade high purity manganese sulphate processing facility to produce key raw materials for electric vehicle battery manufacture in the US.
Brown told Proactive the facility is targeting commissioning in 2025 to produce the first low-carbon, ethically sourced HPMSM in the US using the companys 100%-owned Butcherbird Manganese Project in Western Australia. The project is supported by key offake and funding agreements in place with General Motors and Stellantis which are contributing a combined $115 million in project funding through a combination of equity, pre-payment and senior debt alongside of take for approximately 65% of the planned HPMSM production from the first production train.
Construction is expected to begin in first half of 2024.
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Proactive Investors
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View source version on newsdirect.com: https://newsdirect.com/news/element-25-to-deliver-first-north-american-battery-grade-manganese-sulphate-processing-facility-451403927
Element 25 Ltd
COMTEX_442680384/2655/2023-10-30T15:36:06
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