Euro Manganese

What Euro Manganese does

Euro Manganese Inc. is a Canadian-domiciled, TSX-V/ASX-listed battery materials development company advancing the Chvaletice Manganese Project in the Czech Republic. The company reprocesses approximately 27 million tonnes of historic tailings from a decommissioned mine through a hydrometallurgical metal-route process designed with BGRIMM, producing high-purity electrolytic manganese metal (HPEMM, >99.9% Mn) without selenium or chromium, and converting two-thirds of HPEMM on-site into high-purity manganese sulphate monohydrate (HPMSM, 32.34% Mn minimum) without fluorine via MVR crystallization. The 25-year project is underpinned by a 27Mt Proven and Probable Reserve, with feasibility-stage production targeted at 50,000 tpa HPEMM and 100,000 tpa HPMSM generating projected gross revenues averaging US$554 million per year (US$13.9 billion life-of-project) at base-case pricing of $4,019/t HPMSM and $10,545/t HPEMM. The company pursues a direct enterprise sales motion into European and North American EV battery supply chains, supported by offtake term sheets with Integrals Power (LMFP), Wildcat Discovery (cobalt/nickel-free cathodes), Blue Grass Chemical Specialties (manganese nitrate precursor), and FeMoCat (catalysts), as well as a by-product magnesium carbonate stream. The asset holds EU Critical Raw Materials Act Strategic Project status and Czech Republic Strategic Deposit designation, carries an ESIA (March 2024) and Mining Lease (January 2025) with no expiration, and is funded to date by approximately US$100M from Orion Resource Partners (convertible loan and royalty), C$8.5M from EBRD in 2022, C$11.2M raised in May 2025 (anchored by EBRD, Eric Sprott, and Orion), and earlier equity rounds, with US$757.3M in initial capital still required to reach commercial production.

Name

Euro Manganese

Legal name

Euro Manganese Inc.

Website

https://mn25.ca

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Euro Manganese is a Canadian-listed battery materials developer reprocessing historic mine tailings at the Chvaletice Project in the Czech Republic to produce high-purity HPEMM and HPMSM for European and North American EV battery manufacturers, cathode producers, and specialty chemical customers.

Ownership category

akta.pro rank

Product category

Manganese Mining and Battery Materials Processing

NAICS

Basic Chemical Manufacturing (3251)

SIC

Industrial Inorganic Chemicals (2810), Chemicals & Allied Products (2800)

akta.pro primary industry

Manganese Ore Mining & Concentrates (IMAKAFAF)

akta.pro secondary industries

Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI), Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA)

Keywords

• High-purity manganese
• Battery-grade manganese
• Manganese recycling
• EV battery materials
• Critical minerals processing

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. High-Purity Manganese Product Sales: Primary revenue from sale of HPMSM and HPEMM to EV battery industry. Projected LOP revenues of US$13.9 billion with annual average of US$554 million over 25-year project life. Average prices of $4,019/tonne HPMSM and $10,545/tonne HPEMM in base case. Flexibility to supply either HPMSM or HPEMM to suit customer preference.
2. By-Product Sales (Magnesium Carbonate): Sale of magnesium carbonate produced as a by-product from the wash water recovery system. Revenue not considered in Feasibility Study but secured through offtake term sheet with FeMoCat Ltd.
3. Royalty Financing Obligations: US$50 million royalty on Project revenues owed to Orion Resource Partners as part of funding package structure. Subject to meeting development milestones.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

Euro Manganese produces and will sell High-Purity Manganese Sulphate Monohydrate (HPMSM) and High-Purity Electrolytic Manganese Metal (HPEMM) manufactured from reprocessed historic mine tailings at the Chvaletice Manganese Project in the Czech Republic. Annual capacity is projected at 100,000 tonnes of HPMSM and 50,000 tonnes of HPEMM over a 25-year operating life, with the products supplied to electric vehicle battery manufacturers, cathode material producers, and specialty chemical companies.

Product overview

Euro Manganese is a battery materials company focused on producing high-purity manganese for the electric vehicle industry. The company's core product portfolio consists of High-Purity Manganese Sulphate Monohydrate (HPMSM) and High-Purity Electrolytic Manganese Metal (HPEMM), both produced at the Chvaletice Manganese Project in the Czech Republic through a unique waste-to-value recycling process that reprocesses historic mine tailings. The HPMSM product (containing 99.9%+ purity and 32.34% manganese) is sold as powder for EV battery cathodes, while HPEMM (99.9%+ purity flakes) is sold directly or converted to HPMSM on-site. Approximately two-thirds of HPEMM production is converted to HPMSM. The company also produces magnesium carbonate as a by-product. An early-stage opportunity in Bécancour, Québec is being explored for additional production capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• High-Purity Manganese Sulphate Monohydrate (HPMSM) Battery-grade manganese sulphate monohydrate powder containing no less than 99.9% high-purity manganese sulphate monohydrate and a minimum of 32.34% manganese. Produced without the use of fluorine. Sold to lithium-ion battery cathode manufacturers for use in electric vehicle batteries.
• High-Purity Electrolytic Manganese Metal (HPEMM) Battery-grade manganese metal flakes containing greater than 99.9% manganese. Produced without the use of selenium and chromium. Sold directly to specialty chemical customers or used as on-site feedstock for HPMSM production, with approximately two-thirds of HPEMM converted to HPMSM.
• Chvaletice Manganese Project A waste-to-value recycling and remediation project in the Czech Republic that reprocesses historic tailings from a decommissioned mine to produce high-purity manganese products for the EV battery industry. The only sizable manganese resource in the European Union, with a 25-year project life backed by a 27 million tonne Proven and Probable Reserve at 7.41% Mn.
• Magnesium Carbonate By-Product Magnesium carbonate produced as a by-product from the Chvaletice Manganese Project's wash water recovery system. Sold to industrial catalyst manufacturer FeMoCat Ltd at its Pardubice plant for use in catalysts and Synthetic Hydrotalcites production, providing an additional revenue stream beyond HPMSM and HPEMM.
• Bécancour Manganese Opportunity Early-stage exploration opportunity to produce battery-grade manganese products in Bécancour, Québec. Represents potential expansion of production capacity beyond the Czech Republic operation, providing North American supply optionality for future development.

Quantifiable outcome

• US$1.34 billion after-tax NPV at 8% discount rate
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• Integrals Power LimitedcoreStrategic or Co-development Partner · 18 June 2025UK-based next-generation battery nano-materials company. LOI and offtake term sheet for HPMSM supply for LMFP cathode materials. Initial test work program in Q3 2025 to determine compatibility. Deliveries to commence from first commercial production for initial 7-year term with renewal options. Partnership supports traceability and localized supply chain for UK & Europe.
• FeMoCat LtdmajorStrategic or Co-development Partner · 6 September 2024Industrial catalyst manufacturer with plant at Pardubice, Czech Republic, less than 1 hour from Chvaletice Project. Offtake term sheet for HPMSM and magnesium carbonate by-product for catalysts and Synthetic Hydrotalcites production.
• Blue Grass Chemical SpecialtiesmajorStrategic or Co-development Partner · 23 August 2024New Albany, Indiana-based specialty chemical manufacturer with 50+ years experience. Offtake term sheet for high-purity manganese metal for manganese nitrate production used in lithium-ion batteries.
• Wildcat Discovery TechnologiesmajorStrategic or Co-development Partner · 15 August 2024San Diego-based battery technology company focusing on nickel and cobalt-free cathode production. Offtake term sheet for HPMSM. Wildcat building U.S.-based plant expected 2026-2027 for safe, sustainable cathode materials for EVs and stationary storage.
• BGRIMM Technology Group (Beijing)coreImplementation/ SI/ Consulting PartnerLead process plant design engineer for Chvaletice Project. Completed validation bench scale test work to finalize process flowsheet. Provided key equipment sizing and selection inputs.
• Tractebel Engineering a.s.majorImplementation/ SI/ Consulting PartnerCzech local engineering firm providing European cost inputs and localization for feasibility study and project development.
• EIT InnoEnergyminorStrategic or Co-development PartnerSupporting Euro Manganese's application to EU Innovation Fund's call for proposals (expected Q4 2024).
• CzechInvest (Investment and Business Development Agency of Czech Republic)majorStrategic or Co-development PartnerEngaged for application for Czech government investment incentives including potential cash grants on eligible capital expenditures and income tax relief.
• Wood GroupcoreImplementation/ SI/ Consulting PartnerEngineering partner for FEED (Front-End Engineering Design) work followed by EPCM (Engineering, Procurement, Construction Management) once final investment decision is made.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Element 25 Limited: ASX-listed developer of the Butcherbird High-Purity Manganese Project in Western Australia, targeting HPMSM production for EV battery cathodes. Most directly comparable pure-play HPMSM development peer outside of China.
• Giyani Metals Corp. TSX-V-listed developer of the K.Hill manganese project in Botswana focused on producing HPMSM for battery applications. Closely analogous development-stage HPMSM producer targeting the EV supply chain.
• Firebird Metals Limited: ASX-listed manganese developer focused on the Oakover project with downstream HPMSM ambitions. Comparable development-stage manganese-to-HPMSM peer targeting EV cathode markets.
• Manganese X Energy Corp. Canadian-listed developer of the Battery Hill manganese project in New Brunswick targeting HPMSM for lithium-ion batteries. Closely comparable development-stage North American manganese-to-HPMSM peer.
• Mesa Minerals Limited: ASX-listed manganese-focused explorer/developer with projects in Australia and Africa. A smaller, more comparable pure-play manganese peer targeting battery and specialty markets.

Broad incumbents

• Eramet SA: French-listed global mining and metallurgical group with major manganese operations (including Gabon) and active development of battery-grade manganese. A broad incumbent in the same manganese/battery materials space.
• South32 Limited: ASX-listed diversified miner with significant manganese operations in South Africa and Australia. Provides a benchmark for established, large-scale manganese producers, though battery-grade HPMSM is not its focus.
• OM Holdings Limited: ASX-listed manganese and silicon smelter operator producing manganese alloys and ore. Comparable established manganese producer with adjacent downstream processing, though not focused on battery-grade HPMSM.
• Jupiter Mines Limited: ASX-listed producer of manganese ore (Tshipi Borwa in South Africa), one of the largest pure-play manganese miners globally. Provides a relevant upstream benchmark, though it does not produce HPMSM/HPEMM.
• Tronox Holdings plc: Global titanium dioxide and zircon producer with vertically integrated manganese chemicals exposure via its TiZir joint venture. Relevant broad incumbent with downstream manganese chemical processing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/EuroManganese
• YouTubeyoutube.com/@euromanganese8200
• LinkedInlinkedin.com/company/euro-manganese-inc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Euro Manganese