Name of the Project
Chvaletice manganese project.

Location
Czechia.

Project Owner/s
Canada-based Euro Manganese.

Project Description
A preliminary economic assessment (PEA) has demonstrated the compelling potential of the Chvaletice project.

The PEA is based on the recycling of a 27-million-tonne measured and indicated tailings resource (98.3% on the measured category), with a combined grade averaging 7.33% manganese, without the requirement of any hard-rock mining, crushing or milling.

Envisaged is a mine with a 25-year operating life producing 1.19-million tonnes of high-purity electrolytic manganese metal, two-thirds of which is expected to be converted into high-purity manganese sulphate mono­hydrate powder. Saleable product includes 404 100 t of high-purity electrolytic man­gan­ese metal and 2.35-million tonnes of high-purity manganese sulphate monohydrate powder.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at a 10% real discount rate, of $781.6-million and an internal rate of return of 25.2%, with a 4.5-year payback.

Capital Expenditure
Initial capital requirements are estimated at $403.9-million.

Planned Start/End Date
Not stated.

Latest Developments
Euro Manganese will raise C$29-million in a private placement to accelerate work at its Chvaletice manganese project, allowing for the completion of all site and technical work required for a final investment decision by 2022.

The share offer will comprise two tranches, with the first consisting of more than 41.6-million chess depositary interests (CDIs) to raise an initial C$24.2-million, and the second comprising more than 8.3-million CDIs to raise a further C$4.8-million.

The second tranche placement will be subject to shareholder approval.

The share placement is being anchored by a strategic investor and an environmental, social and corporate governance-focused fund, and has received strong support from several existing institutional shareholders, Euro Manganese has said.

Key Contracts, Suppliers and Consultants
Tetra Tech Canada (PEA); CINF Engineering (comprehensive process design, plant engineering, equipment selection and testing); Changsha Research Institute for Mining and Metallurgy (metallurgical testwork, process design, product development and pilot plant testing); Bilfinger Tebodin Czech Republic (Czech and European cost estimation, localisation and environmental services); GET (geology and sampling, environmental and tailings extraction planning); and Sudop (railway infrastructure design study).

Contact Details for Project Information
Euro Manganese, tel +1 604681 1010 or email info@mn25.ca.