Aluminum price to average 6% higher in 2024 on strong demand: Fitch
Analysts also raised its 2024 aluminum price forecast from $2,400/tonne to $2,450/tonne to reflect these expectations.
Firebird Metals (ASX: FRB) is now fully permitted to operate its proposed battery-grade manganese sulphate plant in China, which will be located in Jinshi, Hunan province, targeting first production in late 2025.
On Tuesday, the Australian miner said it has been awarded the energy permit for the manganese sulphate facility. This, in addition to the safety and environmental permits secured previously, gives Firebird all three key permits required to operate the plant.
Firebird says obtaining the permits in under four months underscores the strong level of support from the Jinshi government, as well as the experience of the company’s manganese sulphate team in China. Including non-operational aspects of the project, the company has now secured six of eight total permits. The next step is the social stability permit, for which work has already begun, followed by the final construction permit.
The energy permit was granted to Firebird after demonstrating low energy consumption for its main products: manganese sulphate (MnSO4) and manganese tetraoxide (Mn3O4). Further reductions in energy consumption are also expected following tests on the new energy-efficient pilot-scale calcining kiln, the company said.
“Testing of our pilot scale calcining kiln, which boasts the potential to lower energy consumption by up to 80%, is underway and the team look forward to assessing and releasing results in the next 6 weeks,” Firebird managing director Peter Allen said in a news release.
The energy permit was granted to Firebird after demonstrating low energy consumption for its main products: manganese sulphate and manganese tetraoxide
Allen added that the company, with the progress it has made since executing its LMFP (lithium manganese iron phosphate) battery strategy in China over the past 12 months, has now set a strong platform to work towards a final investment decision in coming quarters.
Firebird previously indicated that it would make a final investment decision in the second half of 2024 once it has secured all permits to construct and operate the manganese sulphate plant. According to a feasibility study released in May, the project has a projected capex of $83.5 million and opex of roughly $609/metric tonne for the production of battery-grade manganese sulphate.
The plant will utilize manganese ore provided by third parties to produce high-purity manganese sulphate (MnSO4). It is expected to have a capacity of 50,000 tonnes per annum of battery-grade MnSO4 plus 10,000 tonnes of manganese tetraoxide (Mn3O4), or the equivalent of 72,500 tonnes of MnSO4 per year.
