Electric Metals Launches Multi-Workstream Program to Strengthen Economics of the US$1.39 Billion North Star Manganese Project

Electric Metals (USA) Limited announced the launch of an integrated, five-workstream optimization program for its North Star Manganese Project in Minnesota. The initiative aims to improve ore selectivity, recovery rates, and reduce processing costs while advancing the project toward a pre-feasibility study (PFS).

The workstreams include mine planning and ore selectivity via a mineral-speciation block model, as well as expanded sensor-based ore sorting to potentially double feed grades with minimal manganese loss. Additional efforts involve geometallurgical investigations to reduce chemical consumption, a low-cost mineral separation evaluation with the University of Minnesota, and a FEL-1 plant design study for HPMSM and EMM circuits.

The release reiterates the August 2025 PEA metrics, which include a US$1.39 billion after-tax NPV, 43.5% after-tax IRR, US$249.6 million average annual after-tax cash flow, and a 23-month payback period. Production targets remain at 100,000 tonnes/year of HPMSM initially, expanding to 200,000 tonnes/year, with a 10,000 tonnes/year EMM circuit. Management expects progressive results through 2026 and into 2027, creating a pipeline of potential cost savings and income-enhancing updates.

Electric Metals (USA) Limited (EML) released a technical update that serves as a direct follow-up to its August 2025 Preliminary Economic Assessment (PEA) and the June 2026 ore sorting assessment. The announcement outlines the standard technical engineering pathway required to advance from a PEA to a Pre-Feasibility Study (PFS), without introducing new financial metrics, revised net present value (NPV) or internal rate of return (IRR) figures, or unexpected catalysts.

The strategic context regarding U.S. import reliance and Chinese dominance in high-performance magnetic steels (HPMSM) and electrical magnetic materials (EMM) remains unchanged and was already factored into the initial PEA release. The company continues to execute on its stated technical roadmap, confirming progress in the optimization phase following the initial PEA and financing.

Electric Metals (USA) Limited is a pre-revenue junior mining company focused on the North Star Manganese Project in Minnesota. The company’s flagship asset is the Emily Manganese Deposit, a 100% U.S. domestic oxide-hydroxide manganese resource. The project aims to produce High-Purity Manganese Sulfate Monohydrate (HPMSM) and Electrolytic Manganese Metal (EMM) for EV batteries, defense, and industrial applications. The Preliminary Economic Assessment (PEA) outlines an underground underhand cut-and-fill mine, a processing plant, and a downstream chemical facility. The company is currently in the exploration and pre-development stage, with no mineral reserves defined and no production history.