The company expressed its commitment to contributing to the economic growth of Morocco.
Rabat – The Moroccan government has granted Elcora Advanced Materials, a vertically integrated Canadian graphite and graphene company, a manganese exploitation license.
The company celebrated the news on Tuesday, emphasizing that it received the license for its Alas Fox deposit site through its "wholly owned subsidiary Ermazon SARl."
Manganese is an essential metal in the manufacture of batteries for electric vehicles. It is also used in iron manufacturing and stainless steel production.
«The license will allow Elcora to exploit, extract, process and sell manganese from its 16 square kilometer mining concession in the North African country, according to the company.
Commenting on the granting of the license, Troy Grant, CEO of Elcora, stated that the use of manganese is beneficial for both renewable energy storage and job creation.
"The use of manganese not only offers a solution for renewable energy storage, but also has the potential to create new jobs and stimulate local economic growth," Grant said.
He added that mining and processing the material requires "specialized knowledge and technology, and the development of manganese-based batteries" has the potential to create new industries that could drive Elcora's growth.
The company also expressed its gratitude "to the Moroccan Government and all its departments" for their support and for granting the company the operating license.
"We hope to contribute to the economic growth of Morocco and the region," concludes the company statement.
In November, Elcora announced positive laboratory test results for its 12 assays at its Ermazon manganese concession under the Atlas Fox Deposit name in Morocco. "The Atlas Fox Deposit had been exploited until the mid-1950s, when French rule in Morocco came to an end," the company said last year.