June 26 (Reuters) - Element 25 Ltd (E25) :
- ANNOUNCES AGREEMENT FOR E25 TO SUPPLY UP TO 32,500 METRIC TONS OF MANGANESE SULFATE ANNUALLY TO GM
- TO SUPPLY GM WITH MANGANESE SULFATE REQUIRED TO SCALE EV CAPACITY IN NORTH AMERICA BEYOND 1 MILLION UNITS
- PLANS TO BUILD ITS FIRST MANGANESE SULFATE FACILITY IN U.S. WHICH WILL PROCESS MANGANESE FROM ITS BUTCHERBIRD MINE
- GM ALSO ANNOUNCES DIRECT INVESTMENTS IN LITHIUM, NICKEL, OTHER COMMODITIES & CATHODE ACTIVE MATERIALS
- TO SUPPLY BATTERY-GRADE MANGANESE SULFATE TO GENERAL MOTORS’ USA ULTIUM BATTERY PLANTS
- GM TO PROVIDE US$85 MILLION LOAN TO ELEMENT 25 TO BUILD ITS FACILITY IN LOUISIANA
- SITE PREPARATION IS PLANNED TO BEGIN IN Q3 CY2023, AND PLANT IS SCHEDULED TO OPEN IN 2025
- FACILITY PROJECTED TO CREATE ABOUT 200 PERMANENT JOBS WHEN FULLY OPERATIONAL
- EXPECTS TO INVEST ABOUT $290 MILLION TO BUILD 230,000-SQUARE-FOOT FACILITY
News: E25 Element 25 and General Motors Sign Offtake And Funding Agreements
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