Giyani Metals Shifts to EV Battery Manganese Processing, Secures new key members for Board
–News Direct–
Giyani Metals CEO Danny Keating joined Steve Darling from Proactive to highlight a significant transformation within the company, reflecting its shift from mining to processing high-purity manganese for the electric vehicle (EV) battery market. Over the past year, Giyani Metals successfully raised $26 million, welcomed new shareholders, and secured a strategic investor in the IDC group from South Africa.
This evolution necessitates changes in the board composition to align with the company's new strategic direction. As part of this transition, several board members will step down, allowing for the infusion of fresh expertise, particularly in the EV battery market and project financing. Mark Burnett, an experienced professional in these areas, will join as interim chair until the Annual General Meeting (AGM).
Giyani Metals is focused on constructing a demonstration plant in Johannesburg, aimed at showcasing its processing capabilities and products to potential offtake partners. This initiative plays a pivotal role in the company's broader objective of reaching a Final Investment Decision (FID) by mid-next year. Supported by mining permits, licenses, and a definitive feasibility study, Giyani Metals is strategically positioning itself to capitalize on the growing demand for battery-grade manganese.
In the coming months, Giyani Metals will accelerate its program, complete the demonstration plant, and actively engage with customers to secure offtake agreements. These efforts are geared towards de-risking the project for future financing, underscoring the company's commitment to becoming a leading player in the EV battery materials market.
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Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/giyani-metals-shifts-to-ev-battery-manganese-processing-secures-new-key-members-for-board-790426203
Giyani Metals Corp
COMTEX_452968137/2655/2024-05-27T12:23:32
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