Resource companies Mkango Resources (TSXV: MKA, OTC PINK: MKNGF) and Euro Manganese (TSXV: EMN, ASX: EMN, OTCQB: EUMNF) were promoted this week, when their respective property “strategic projects” were named under the European Union.
On Monday (March 24), the European Commission released a list of 47 strategic important raw material projects. 13 located in the member states of the European Union, they cover one or more segments of the raw material value chain.
They are also responsible for 14 of the 17 strategic raw materials included in CRMA.
Among them is Mkango’s Pulawy project, which is recognized for its role in the supply of rare earth oxide, and the Euro manganese’s Chvaletice project, contributing to the European battery material supply chain.
Mkango resources’ Pulawy rare earth separation project
Mkango’s Pulawy project is expected to play a role in establishing a safe European supply chain for neodymium, prieseodymium, dysprosium and terbium, which is used to make electric vehicles and wind turbines.
On 17 February, the company signed a land lease agreement through its Polish Assistant, Makango Pollska in collaboration with Group Azoti Pulawi. It facilitates the construction of a rare earth separation facility in Poland, Poland.
The proposed facility aims to produce 2,000 metric tons per year per year for neodimium and prochemium oxide, as well as 50 metric tonnes per year per dysproosium and terbium oxide. Lanthaneum serum carbonate will also be produced on the site.
Along with the status of the strategic project, Pulavi will benefit from early permission procedures under CRMA, ensuring that Poland regulatory officials followed the maximum 15 -month timeline for processing and refinement of projects.
The project will achieve access to coordinated support from European Commission, member states and financial institutions, which will facilitate financing opportunities and connections with potential offtakers.
In addition to its work in the casserole, Macango focuses on developing permanent sources of rare earth elements, as well as recycling rare earth magnets through its subsidiary Maginito.
Maginito is interested in Hypromag, which focuses on rare earth magnet recycling in Britain and Germany, and Mkango rare earth UK, which specializes in prolonged rare Earth magnet recycling.
Euro manganese’s chawalatis manganese project
The purpose of the Euro Manganese’s Chawalatis Manganese project located in the Czech Republic is a major supplier of high-purity manganese for the European battery industry. CRMA lists high purity manganese as a strategic raw material, which is essential for electric vehicle batteries and broad clean energy infections.
The CHVALETICE project stands out as an waste-to-price initiative, which focuses on reproducing the tail of the old mine rather than developing a new mine. The project represents the only large -scale manganese resources within the European Union, as a major player in the battery material supply chain of the region.
With a strategic project designation, Chawalatis will benefit from well -organized permission procedures and access to financial aid from institutions such as European Investment Bank and European banks for reconstruction and development. It will also be eligible for money from European Development Fund and Coordination Fund.
The Czech government has recognized the Chawalatis Manganese deposits as a strategic resource, strengthening the importance of the project, strengthening the importance of Europe to Europe. In March 2024, the asset received an environment and social impact assessment approval from the Ministry of Czech Environment. In January this year, Euro Manganese determined the mining lease permit, marking a major milestone in the project permission process.
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Securities disclosure: I, Giann Liguid, no direct investment in any company mentioned in this article is interested.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
