Elcora is pleased to announced that the company has begun operations on the 16 km² Manganese mining concession (‘’Deposit’’) in Morocco for which it has acquired earlier exclusive rights..
The SGS-certified African Laboratory for Mining and Environment (AFRILAB) team evaluated onsite that already extracted Manganese (Mn) piles contain about 5,500 metric tonnes of Manganese ore. The masses tested between 27% Mn and 33% Mn before sorting or processing. It is estimated that about 4,000 metric tons of 37% Mn ore after sorting can be obtained from the same piles. Manganese ore 37% currently sells at about $331USD / metric ton on the international market. The price is not necessarily indicative of the sales prices to be received by Elcora.
This allows Elcora to sort, process and sell Manganese ore as of today in order to meet customers expectations. Mining will thereafter continue as surface deposit, saving the Company time and money. Manganese is a key component for battery-grade minerals and metals, which are essential for the global battery value chain.
“We are very excited about this confirmation of extracted Manganese ore on our site. This is a significant milestone for Elcora. We are confident that we can produce high-quality battery metals and minerals that meet the growing demand from the electric vehicle and energy storage sectors,” said Troy Grant, President, and CEO of Elcora.
Elcora is well-positioned to establish itself as a leader in battery technologies with both known metal deposits and untapped mineral sites with great potential. The Company’s mandate is focused on the global battery value chain. More specifically, it plans on both extracting and processing battery-grade minerals and metals from its current projects.
Source: investor intel