Euro Manganese Welcomes the European Union’s Final Approval of the Critical Raw Materials Act
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NR 2024-07
Euro Manganese Welcomes the European Union’s
Final Approval of the Critical Raw Materials Act
VANCOUVER, British Columbia ( March 25, 2024) – Euro Manganese Inc. (TSX -V and ASX: EMN; OTCQX:
EUMNF; Frankfurt: E06) (the "Company" or "EMN") today provided follow up comments to the Company’s
announcement dated March 20, 2023 regarding the European Commission’s proposed Critical Raw
Materials Act (“CRMA” or the “Act”), which outlines how the European Union (the "EU") intends to ensure
a secure and sustainable supply of critica l raw materials that are essential in supporting the energy
transition. With the Council of the EU’s (the “Council”) recently announced final approval of the CRMA,
Euro Manganese’s Chvaletice Manganese Project (the "Chvaletice Project" or the "Project") in the Czech
Republic positions the Company to become the only European producer of high-purity manganese for use
in the battery supply chain.
Highlights
• The Council of the European Union has given final approval to the Critical Raw Materials Act.
• A statement from the Council outlined this approval as the final stage in the process of formally
implementing the Act.
• The final text, officially adopted on March 18, 2024, identifies two lists of materials (34 critical and
17 strategic), that are crucial for green and digital transitions.
• High-purity manganese (battery grade) listed as a strategic raw material, and manganese listed
as a critical raw material . “Manganese – Battery Grade” was listed as a strategic raw material,
which recognizes its importance in meeting Europe’s decarbonization efforts and in defence and
space applications. Manganese was listed as a critical raw material, which are those considered
to be of high economic importance and high supply risk to the EU.
• Chvaletice Project supports EU requirements for local extraction, processing, and use of
recycled raw materials. The Act sets out three benchmarks for domestic mining, processing, and
recycling and the Company believes the Project satisfies all three requirements.
• To strengthen the EU’s raw materials value chain, the CRMA established the concept of Strategic
Projects, which are those that will make a meaningful contribution to the security of the EU’s
supply of strategic raw materials. The Chvaletice Project meets the criteria for recognition as a
Strategic Project, and the Company intends to submit an application for recognition of the Project
as a Strategic Project as soon as the application process opens, which in turn will allow the Project
to qualify for priority permitting and expand access to funding.
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Dr. Matthew James, President & CEO of Euro Manganese, commented:
“We are pleased to see the EU’s approval of the Critical Raw Materials Act and view this as a key milestone
towards securing access to critical raw materials to support the energy transition. This announcement, in
combination with the expected approval of the Environmental and Social Impact Assessment for our
Chvaletice Project , position Euro Manganese to become the only European producer of high -purity
manganese in the battery value chain.”
The full statement from the Council of the EU is available here.
About Euro Manganese
Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity
manganese for the electric vehicle industry. The Company is advancing development of the Chvaletice
Manganese Project in the Czech Republic and exploring an early -stage opportunity to produce battery -
grade manganese products in Bécancour, Québec.
The Chvaletice Project is a unique waste -to-value recycling and remediation opportunity involving
reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese
in the European Union, strategically positioning the Company to provide battery supply chains with critical
raw materials to support the global shift to a circular, low-carbon economy.
Euro Manganese is dual listed on the TSX Venture and the ASX, and is also traded on the OTCQX.
Authorized for release by the CEO of Euro Manganese Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) or t he ASX accepts responsibility for the adequacy or accuracy of t his
release.
Enquiries
Dr. Matthew James
President & CEO
LodeRock Advisors
Neil Weber
Investor and Media Relations – North America
+1 (647) 222-0574
Jane Morgan Management
Jane Morgan
Investor and Media Relations - Australia
+61 (0) 405 555 618
Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: www.mn25.ca
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Forward-Looking Statements
Certain statements in this news release constitute “forward -looking statements” or “forward -looking information” within
the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or achievements of the Company, its Chvaletice mineral
project, its proposed Bécancour Plant or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward -looking statements or information. Such statements can be identified
by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”,
“scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking information or statements include, but are not limited to, statements regarding the Company’s intentions
regarding the development of the Chvaletice Project in the Czech Republic, the ability of the Company to deliver high purity
manganese metal and meet European demand, the desirability of the Company’s products, the Project’s ability to benefit
from the proposed CRMA, the Project’s eligibility to satisfy the requirements of the proposed CRMA, whether the Project’s
high-purity manganese products will qualify as recycled materials, the Company’s ability to engage in recycling activities,
whether the Project will qualify as a Strategic Project, making it eligible for possible prioritization in respect of permitting
and support for access to funding and for facilitating offtake agreements , and statements regarding the expectation and
timing of the Environmental and Social Impact Assessment approval and other various regulatory approvals.
Readers are cautioned not to place undue reliance on forward -looking information or statements. Forward -looking
statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ
materially from those discussed in the forward -looking statements and, even if such actual results are realized or
substantially realiz ed, there can be no assurance that they will have the expected consequences to, or effects on, the
Company.
Factors that could cause actual results or events to differ materially from current expectations include, among other things
for the Chvaletice Project : lack of sufficient funding; the inability to meet conditions under the Company’s secured credit
facility and risks related to granting and enforcement of security; the availability of equipment, facilities, and suppliers
necessary to complete development; the cost of consumables and extraction and processing equipment; risks and
uncertainties related to the ability to obtain, amend, or maintain necessary licenses, or permits, risks related to acquisition
of surface rights; the potential for unknown or unex pected events to cause contractual conditions to not be satisfied; the
inability to secure sufficient offtake agreements; unexpected results or unsuccessful completion of the various stages of the
EPCM contract; and changes in project parameters as plans continue to be refined. Additional factors that could cause
results or events to differ materially from current expectations include risks related to global epidemics or pandemics and
other health crises; availability and productivity of skilled labour; unf oreseen technological and engineering problems; the
adequacy of infrastructure; social unrest or war; the possibility that future results will not be consistent with the Company's
expectations; increase in competition, developments in EV battery markets an d chemistries; risks related to fluctuations in
currency exchange rates, changes in laws or regulations; and regulation by various governmental agencies and changes or
deterioration in general economic conditions. For a further discussion of risks relevant to the Company, see "Risk Factors"
in the Company's Annual Information Form for the year ended September 30, 2023, available on the Company's SEDAR+
profile at www.sedarplus.ca.
All forward-looking statements are made based on the Company's current beliefs as well as various assumptions made by
the Company and information currently available to the Company. In general, these include that the Company can achieve
its goals; that the political and community environment in which the Company operates in will continue to support its
projects; the Company can meet its obligations under the Convertible Loan Facility and secure additional financing, and
assumptions related to the factors set out herein.
Although the forward-looking statements contained in this news release are based upon what management of the Company
believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these
forward-looking statements. These forward -looking statements are made as of the date of this news release and are
expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does
not assume any obligation to updat e or revise the forward -looking statements contained herein to reflect events or
circumstances occurring after the date of this news release.