Element 25 Ltd (ELMTF)

[barnyarddog]

270 views Oct 26, 2023 #asx #GreenTech #OTCMarket

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 USA.

Brown told Proactive the facility is targeting commissioning in 2025 to produce the first low carbon, ethically sourced HPMSM in the USA using the Company’s 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 dollars 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.