Australian and Canadian-listed Euro Manganese says it hopes to turn an offtake term sheet with California battery cathode maker Wildcat Discovery Technologies into a binding agreement covering “a significant percentage” of output from its proposed Chvaletice manganese project in the Czech Republic.
“The term sheet indicates a new long-term partnership between Euro Manganese and Wildcat, focusing on the supply of high-purity manganese products,” Euro Manganese said.
“Deliveries are expected to commence upon the successful qualification of the product by Wildcat’s planned US plant, which is anticipated to be operational between 2026 and 2027.”
The term sheet outlines an initial seven-year delivery term with pricing “linked to market indicators, with provisions for adjustments based on specific benchmarks”.
Euro Manganese CEO Dr Matthew James described the deal as a milestone for Euro Manganese and “for the western market battery value chain”.
“An important value proposition is [that] our product does not originate from, or is processed by, a foreign entity of concern, a key purchasing criteria for North American customers,” he said.
Wildcat CEO Mark Gresser said the agreement represented an “important step for Wildcat in the development of high quality, low-cost, reliable, localised and IRA compliant sources for important cathode pre-cursor materials”.