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Accelerate has exercised its option to acquire the manganese and iron ore rights for the Braeside West and Ripon Hills East projects in the Pilbara – and managing director Yaxi Zhan has high hopes for the discovery.
“To be in the East Pilbara, in the high-grade manganese province, with the right geology is a critical foundation to have a successful project,” she said.
“When we acquired the project we inherited quite a lot of data too – which shortens the discovery process.
“Both the Braeside West and Ripon Hills East projects will be our priority for the next six to 12 months.
“We also recently raised $3 million and together with $1 million in the bank we’re fully funded for the next phase of exploration.”
Critical mineral for battery and steel production
Manganese is a critical mineral for battery and steel production and with forecast demand shortfalls, Accelerate (ASX:AX8) has timed its acquisition well.
Zhan said the demand is being driven by the global economic recovery, particularly in China as the steel factory for the global economy.
“The CSIRO published the 2021 critical mineral report which identified about 12 minerals and manganese is one and so is silica sands and kaolin,” she said.
“While we are focused on our manganese assets, we also have the Tambellup kaolin project which is married up with Vytas, which holds the Vytas silica sands project.
“They have a very specialised team, they want to take the company to IPO and Accelerate shareholders will have...
Read Full Story: https://stockhead.com.au/resources/accelerate-zeros-in-on-manganese-assets-in-the-pilbara/
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