Evion Group has secured formal notice from Madagascar’s Mines Ministry that its Maniry Graphite Project permits have passed technical assessment and are set for expedited approval, marking a key step towards production.
- Mines Ministry confirms Maniry permits meet new Mining Code requirements
- Formal directive issued to fast-track conversion of exploration permits to mining permits
- Supports Evion’s plans for offtake agreements, financing, and construction start
- European Union commits over US$100 million to Madagascar infrastructure and development
- Maniry Project recognised as a preferred graphite supply to Europe and the USA
Regulatory Breakthrough for Maniry Project
Evion Group (ASX: EVG) has received a significant boost in its development timeline with formal notice from Madagascar’s Ministry of Mines confirming that the technical assessment of its Maniry Graphite Project permits has been successfully completed. The Ministry has directed the relevant authorities to expedite the conversion of Evion’s exploration permits into full mining permits under Madagascar’s updated Mining Code.
This milestone is more than a bureaucratic formality; it signals that the Maniry Project is now technically cleared to move into the exploitation phase. For Evion, this is a critical step that unlocks the pathway to finalising offtake agreements, securing project financing, and commencing construction activities in the near term.
Strategic Importance Amid Global Supply Chains
The timing of this development coincides with the European Union’s recent announcement of a US$100 million funding package to Madagascar, aimed at infrastructure, health, and community projects. This financial commitment underscores the EU’s strategic interest in Madagascar’s mineral resources, particularly graphite, which is essential for battery technologies and electrification efforts worldwide.
Evion’s Maniry Project is uniquely positioned as the only graphite project outside Europe recognised by the EU as a preferred supplier. This status not only accelerates permitting but also enhances Evion’s attractiveness to investors and strategic partners, aligning with the EU’s broader critical minerals strategy.
Project Outlook and Next Steps
With the Mines Ministry’s endorsement, Evion’s Managing Director David Round expressed optimism about the swift transition to mining permits and the subsequent phases of project development. Environmental permitting is expected to follow shortly, further clearing the path to production.
Evion’s vertically integrated approach, including its Battery Anode Material project in Germany and the Panthera Graphite Technologies joint venture in India, positions the company to supply high-grade graphite to global markets efficiently. The Maniry Project’s Definitive Feasibility Study highlighted a potential output of 60,000 tonnes of graphite concentrate annually over 21 years, with a pre-tax net present value of US$263 million, underscoring its economic viability.
As Madagascar continues to evolve its mining sector, Evion’s progress exemplifies how regulatory clarity and international partnerships can accelerate critical mineral projects that support the global energy transition.
Bottom Line?
Evion’s permit fast-tracking marks a pivotal moment, but the race to secure financing and offtake deals is just beginning.
Questions in the middle?
- When will the final mining permits be officially issued and construction commence?
- How will the EU’s funding influence Madagascar’s mining regulatory environment long term?
- What are the prospects for Evion securing binding offtake agreements and project financing soon?