Saturday, August 13, 2022

Ground Breakers: Element 25 back in action as it targets manganese battery market - Stockhead

Last updated Wednesday, January 5, 2022 20:13 ET , Source: NewsService


Manganese miner Element 25 (ASX:E25) looks to have overcome early teething problems at the Butcherbird Manganese mine in the Pilbara as it shifts its focus to the emerging battery market.

The $225 million miner copped a big hit to its ramp up plans when a shaft failure forced it to bring forward planned maintenance and engineering improvements in November.

Those works have now been completed, with E25 finally hitting nameplate capacity and then some at the Butcherbird plant, six months after shipping its first cargo in July.

News E25 has hit record daily production of 1209t of manganese concentrate on January 3 stirred investors, sending the stock soaring by almost 25% this morning.

It has recorded average daily production of 934t since December 23 last year, against a target production rate of 1000t for its stage 1 plant.

“The record daily production of 1,209 tonnes achieved on 3 January is equivalent to annualised production of over 400,000t per annum which exceeds our 365,000tpa nameplate capability,” E25 MD Justin Brown said.

“Whilst it is premature to make firm forecasts on annual production volumes, it is highly encouraging to see this step-change in process plant performance after the implementation of the planned improvements.”

Sustainable nameplate production is expected in the March Quarter.

Element 25 share price today:

Stage 2 & 3

With the plant back operational, Element25 is back focusing on studies to expand into new markets.

Manganese is an...

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