Elcora, a Canada-based mining company focused on extracting electric car (EV) batteries metals, announced on Tuesday that it is preparing a ‘comprehensive’ extraction plan for manganese under the “Atlas Fox Deposit” license in Morocco.
In a statement, Elcora explains that the company is currently in the process of preparing for extraction operations, “following the very positive Manganese Ore lab test results.”
“The Atlas Fox Deposit had been mined until the mid-fifties when the French rule in Morocco came to an end leaving on-site about 40 extracted Manganese ore piles and numerous surface veins and pits,” the statement adds.
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In the same statement, Elcora said that, after negotiations with mining company Gold Lion, it will retain 100% ownership of the manganese concession. In September, Gold Lion bought a 25% stake in the manganese permit under a $75,000 cash deal among other terms.
Commenting on the news, Elcora’s CEO Troy Grant said, “Given the latest Manganese Ore test results, it was important for us to retain 100% of the Atlas Lion Deposit and build additional shareholders’ value.”
Grant said Eclora’s main focus is “to start producing ore as soon as possible and the Mining Plan along with bringing the necessary equipment are important steps towards it.” The CEO explained that the local Moroccan team is “diligently working on getting the last Government requirements with the objective to start production before the end of 2022.” Elcora is operating in Morocco through its subsidiary Ermazon SARL.
SOURCE: Morocco news