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 aStrategic Project , and the Company intends to submit an application for recognition of the Project as aStrategic 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.
Dr.
“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
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Dr.
President & CEO
mjames@mn25.ca
LodeRock Advisors
Neil Weber
Investor and Media Relations –
+1 (647) 222-0574
neil.weber@loderockadvisors.com
Jane Morgan Management
Jane Morgan
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jm@janemorganmanagement.com.au
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Website: www.mn25.ca
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
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 realized, 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
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 update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Source:
2024 GlobeNewswire, Inc., source