- Elcora Advanced Materials (ERA) intends to purchase a manganese-mining concession in Morocco
- The company signed a binding agreement with exclusive long-term mining production rights and the option to purchase the 16 km² mining concession held by Ermazon SARL, a wholly-owned subsidiary of Elcora
- Manganese is used, among other things, to produce batteries for EVs and other renewable energy applications such as electricity grid storage batteries
- Elcora Advanced Materials Corp. (ERA) opened trading at $0.09 per share
Elcora Advanced Materials (ERA) intends to purchase a manganese-mining concession in Morocco.
The company signed a binding agreement with exclusive long-term mining production rights and the option to purchase the 16 km² mining concession held by Ermazon SARL, a wholly-owned subsidiary of Elcora.
This manganese deposit had been mined until the COVID crisis prevented further development. The artisanal production run rate at the deposit was then 2,500 metric tonnes per month. The Elcora team believes there is potential for more. Combined with Elcora’s Atlas Fox Deposit, the company’s overall manganese ore production capacity has grown to more than 5,000 metric tonnes per month.
Troy Grant, Elcora CEO, explained that manganese is an important metal in demand for the production of steel, EV batteries, and high-tech electronics.
“An increase in infrastructure and technology projects will drive demand and price growth, providing potential benefits for those, like Elcora, who start mining and trading Manganese ore now.”
Manganese is used, among other things, to produce batteries for EVs and other renewable energy applications such as electricity grid storage batteries.
Elcora Advanced Materials Corp. has been structured to become a vertically integrated battery material company which can process, refine, and produce battery-related minerals and metals.
Elcora Advanced Materials Corp. (ERA) opened trading at $0.09 per share.
