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Be the first with the news that moves the market- Elcora Advanced Materials (ERA) has received a manganese-mining research licence in Morocco
- This license is for its “Atlas Fox Deposit” and allows the company to mine, extract, process, and sell manganese from its 16 km² mining concession in Morocco
- The mining method will initially be an open pit, the production potential run rate at the Atlas Fox Deposit is thought to be approximately 2,500 metric tonnes per month
- Elcora Advanced Materials Corp. (ERA) was up 4.76 per cent, trading at $0.11 at 9:55 am ET
Elcora Advanced Materials (ERA) has received a manganese-mining research licence in Morocco.
This license is for its “Atlas Fox Deposit” and allows the company to mine, extract, process, and sell manganese from its 16 km² mining concession in Morocco.
The manganese-research mining licence in Morocco is held by Ermazon SARL, a wholly-owned subsidiary of Elcora.
The manganese site is a former French mine that was in operation for decades. Manganese is used, among other things, to produce batteries for EVs and other renewable energy applications such as electricity grid storage batteries.
The mining method will initially be an open pit, the production potential run rate at the Atlas Fox Deposit is thought to be approximately 2,500 metric tonnes per month.
Troy Grant, Elcora CEO, said the use of manganese not only provides a solution for renewable energy storage but it also has the potential to create new jobs and stimulate local economic growth.
“The extraction and processing of Manganese require specialized skills and technology, and the development of Manganese-based batteries has the potential to create new industries driving Elcora’s growth.”
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) was up 4.76 per cent, trading at $0.11 at 9:55 am ET.
