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loan","gm-backs-first-us-manganese-plant-with-85-million-loan","article/gm-backs-first-us-manganese-plant-with-85-million-loan",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":695,"featured":51,"reporter":696,"_editable":700,"component":701,"seo_title":543,"categories":702,"visibility":709,"author_company":49,"featured_image":710,"seo_description":695,"author_full_name":49,"author_job_title":49,"formattedDate":714,"formattedArticleDate":715},"cd45b2a7-658b-454d-9223-5c7fed82c0c8","2023-06-27 00:00",[550],{"slug":551,"name":552},"manganese","Manganese",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,573,578,601,606,615,622,627,632,637,642,647,652,657,662,667,672,677,682],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"General Motors will lend Australia’s Element 25 $85 million to build the first manganese processing plant in the US, as part of a deal that secures seven years of supplies of the battery material.  ","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"Perth-based Element 25 will supply GM up to 32,500 tonnes of manganese sulphate a year starting in 2025, enough to meet  GM’s annual production of more than 1 million electric vehicles in North America.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581,583,591,593,599],{"text":582,"type":572},"The deal will help reduce GM’s reliance on Chinese processing of manganese, which accounts for around 95% of the market for high-purity manganese sulphate (HPMSM). It is the second ",{"text":584,"type":572,"marks":585},"offtake agreement",[586],{"type":587,"attrs":588},"link",{"href":589,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/2023-will-be-the-year-the-auto-industry-secures-manganese","url",{"text":592,"type":572}," with an automaker for manganese this year, following Stellantis’ ",{"text":594,"type":572,"marks":595},"deal with Element 25",[596],{"type":587,"attrs":597},{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/stellantis-secures-battery-grade-manganese-chemicals-in-first-of-its-kind-offtake-deal-1",{"text":600,"type":572}," in January. ",{"type":567,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":572},"If all precursor and cathode active materials are made in North America, to meet demand by 2030 would require around 400,000 tonnes a year of HPMSM, according to Anna Fleming, an analyst at Benchmark, which is around 130,000 tonnes of manganese contained. ",{"type":567,"attrs":607,"content":608},{"textAlign":49},[609],{"type":610,"attrs":611},"image",{"id":49,"alt":612,"src":613,"title":49,"source":49,"copyright":49,"meta_data":614},"","https://a.storyblok.com/f/287943243085208/332273e580/bm-na-manganese-demand.png",{},{"type":616,"attrs":617,"content":619},"heading",{"level":618,"textAlign":49},4,[620],{"text":621,"type":572},"From Australia to Louisiana ",{"type":567,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":572},"GM said the manganese will be mined by Element 25 at its Butcherbird mine in Western Australia, before being processed in Louisiana. ",{"type":567,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":572},"That will make the material eligible as part of the US Inflation Reduction Act, which requires automakers to source a certain percentage of minerals from the US or free trade agreement countries, in order to receive tax credits for their vehicles. ",{"type":567,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":572},"GM has made a number of deals to secure supplies of battery materials in North America and US allied countries over the past year, including investing in lithium miner Lithium Americas, and Australia’s Queensland Pacific Metals. ",{"type":567,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":572},"GM is building a cathode production facility in Quebec as part of a joint venture with South Korea’s Posco, which will process critical minerals into precursors and cathode active materials. ",{"type":567,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":572},"Doug Parks, GM executive vice president for purchasing and supply chain at GM, said the company’s direct investments in battery raw materials and processing were “providing certainty of supply, favourable commercial terms and thousands of new jobs, especially in the US, Canada and free trade agreement countries like Australia.”",{"type":616,"attrs":648,"content":649},{"level":618,"textAlign":49},[650],{"text":651,"type":572},"The first US manganese plant ",{"type":567,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":572},"Element 25 expects to invest around $289 million to build the first train of its 230,000-square-foot plant in Louisiana. ",{"type":567,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":572},"It aims to produce 65,000 t/year of battery grade HPMSM initially, which is around 20,800 tonnes manganese contained. ",{"type":567,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":572},"In January automaker Stellantis agreed to support construction of the plant with $30 million in investment in two tranches, as part of an offtake deal for 10,000tpa HPMSM for five years.",{"type":567,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":572},"The first tranche of the funding will be an $15 million equity investment into E25, which could be finalised by the end of this month, if conditions are met. ",{"type":567,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":572},"In February Element 25 secured a A$30 million ($20 million) financial facility for construction of the plant, in a deal with Acuity Capital.  ",{"type":567,"attrs":678,"content":679},{"textAlign":49},[680],{"text":681,"type":572},"GM’s loan is a senior secured debt repayable over a seven-year period, for the duration of the offtake agreement. ",{"type":567,"attrs":683,"content":684},{"textAlign":49},[685,687,693],{"text":686,"type":572},"The plant, if built by 2025, will be the first in the US producing high purity manganese. Australian miner South32 also ",{"text":688,"type":572,"marks":689},"plans to build",[690],{"type":587,"attrs":691},{"href":692,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/south32-could-become-key-battery-manganese-supplier-as-arizona-project-receives-permitting-boost",{"text":694,"type":572}," a HPMSM facility in southern Arizona.","General Motors will lend Australia’s Element 25 $85 million to build the first manganese processing plant in the US, as part of a deal that secures seven years of supplies of the battery material. Perth-based Element 25 will supply GM up to 32,500 tonnes of manganese sulphate a year starting in 2025, enough to meet […]",[697],{"slug":555,"name":556,"content":698},{"job_title":558,"image":699,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"cd45b2a7-658b-454d-9223-5c7fed82c0c8\", \"id\": \"\"}-->","article",[703,706,708],{"slug":704,"name":705},"batteries","Batteries",{"slug":707,"name":298},"cathode",{"slug":551,"name":552},"private",{"id":49,"alt":612,"name":612,"focus":612,"title":612,"source":612,"filename":711,"copyright":612,"fieldtype":712,"meta_data":713,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/cd23d23128/bm-2021-06-15-manganese-concentrate-loading-01.jpg","asset",{"alt":612,"title":612,"source":612,"copyright":612},"Jun 27, 2023","27th June 2023",[],[],1781023431074]