Elcora to purchase existing manganese mine in Morocco
Elcora Advanced Materials Corp has announced that it has signed, through its Ermazon SARL wholly-owned subsidiary, a binding agreement with exclusive long-term mining production rights and an option to purchase the 16 km² Manganese mining concession in Morocco.
Until a few years ago, the mining of the Manganese Deposit was ongoing, but due to the strict COVID crisis regulations, further, development was prevented. The artisanal production rate of the Deposit was approximately 2,500 metric tonnes per month, and our local team believes that with the addition of suitable equipment, there is potential for more production.
When combined with Elcora's own Manganese ore Atlas Fox Deposit, the company's overall manganese ore production capacity exceeds 5,000 metric tonnes per month. Manganese is a crucial element in steel and other alloy production, and it is increasingly being recognised for its potential in renewable energy storage.
The promising future of manganese within the EV sector
Recent studies have shown that manganese-based compounds can be used in lithium-ion batteries to improve their efficiency and stability. These batteries, commonly used in consumer electronics and electric vehicles (EV), have a limited storage capacity and can be expensive to produce. However, by adding manganese to the battery’s cathode, researchers have been able to increase its storage capacity and extend its lifespan.
Morocco is home to significant deposits of Manganese, and Elcora’s mining operations are set to expand in the region. This will not only provide a renewed source of Manganese for the global market, but it will also bring economic opportunities to the local community.
Troy Grant, Elcora’s CEO commented ‘’Manganese is an important metal in demand for the production of steel, EV batteries, and high-tech electronics. An increase in infrastructure and technology projects will drive demand and price growth, providing potential benefits for those, like Elcora, who start mining and trading Manganese ore now.”.
