Eastman(US:EMN) Newsfile·2025-04-01 13:52Core Viewpoint - Euro Manganese's Chvaletice Project has been designated as a Strategic Project under the EU's Critical Raw Materials Act, enhancing its significance in the European raw materials supply chain [1][4]. Strategic Project Designation - Strategic Projects under the EU CRMA gain access to guidance and potential funding from various sources, including the European Investment Bank and the European Bank for Reconstruction and Development, as well as private financial institutions [3][8]. - The designation ensures that permitting processes adhere to deadlines set in the CRMA, thereby reducing scheduling risks associated with permitting [3][8]. Importance of the CRMA - The CRMA, effective from May 2024, identifies over 30 raw materials, categorizing high-purity manganese (battery grade) as a strategic raw material and manganese as a critical raw material [4]. - The designation aims to enhance the security of the EU's supply of strategic raw materials and to diversify supplies from third countries [4]. Recent Approvals and Milestones - In March 2024, the Czech Ministry of Environment approved the Environmental and Social Impact Assessment for the Chvaletice Project [5]. - The Determination of Mining Lease permit was secured in January 2025, marking a significant step towards full permitting [5]. - The Czech government declared the Chvaletice Manganese Deposit as strategic in March 2025 [5]. Company Objectives - Euro Manganese aims to play a crucial role in establishing a sustainable and climate-friendly battery value chain in Europe, leveraging its Strategic Project status to facilitate access to government-backed funding and collaboration with EU institutions [6][9]. - The Chvaletice Project represents a unique waste-to-value recycling opportunity, involving the reprocessing of old tailings from a decommissioned mine, positioning the company as a key supplier of critical raw materials for battery supply chains [10].