Electric Metals Unveils Promising PEA for North Star Manganese Project

Electric Metals (USA) Limited has announced a favorable Preliminary Economic Assessment (PEA) for its North Star Manganese Project in Minnesota. The PEA reveals a post-tax NPV of $1.39 billion and an IRR of 43.5%, with a 23-month payback period. This project aims to become a key U.S. producer of high-purity manganese sulphate monohydrate (HPMSM), crucial for lithium-ion batteries.

The North Star project aligns with U.S. strategies on critical minerals, especially as the country currently relies entirely on imports for manganese. The mine is expected to produce 4.3 million tonnes of battery-grade HPMSM over 25 years, with planned extensions through additional drilling and use of lower-grade material.

Initial capital expenditure stands at $474.8 million, with additional costs for plant expansion and sustaining operations. The company plans to engage with key stakeholders to ensure collaboration and compliance.