Electric Metals Files PEA for North Star Manganese Project

Electric Metals (USA) Limited has filed its Preliminary Economic Assessment (PEA) for the North Star Manganese Project on SEDAR+. Located in Emily, Minnesota, the project integrates a manganese mine with a U.S. high-purity manganese sulfate monohydrate (HPMSM) plant. Prepared by Forte Dynamics, the PEA is a key step in delivering U.S.-sourced manganese products for electrification purposes.

The PEA highlights robust after-tax economics with a net present value (NPV) of $1.39 billion and an internal rate of return (IRR) of 43.5%. Initial capital expenditure is set at $474.8 million. The assessment underscores strong financial metrics and outlines future steps for optimization and development.

The company's mission focuses on establishing a domestic supply of manganese for the electric vehicle and industrial markets, addressing the need for local resources in North America. Despite the positive outlook, risks related to resource estimation and project financing remain potential challenges.