Euro Manganese Inc. (EMN) has entered into an offtake term sheet with Verkor, a low-carbon battery manufacturer based in Grenoble, France, for the sale of high-purity manganese sulphate monohydrate from the Company’s Chvaletice Manganese Project in the Czech Republic.
The non-binding Term Sheet will become binding upon the signing of a legally binding offtake agreement, and will begin deliveries from first production, expected to be in 2027, for an initial tenure of eight years with potential for renewal.
The pricing mechanism will be based on an index-adjusted western benchmark price, representing HPMSM from a secure, traceable, local European supply source.
This is the Company’s first term sheet for a long-term offtake and more are expected in the near term.