Australia's Element 25 secures $32.6 million in government debt to build out manganese mine

General Motors and battery partner LG Energy Solution said last month they are planning to start commercial production of lithium manganese-rich (LMR) battery chemistry at a U.S. facility starting in 2028. GM said the chemistry is lower cost than the nickel-rich cells used today, but will still give customers the range they want in future electric trucks and full-size SUVs. NAIF will provide the funding for the company's Butcherbird Manganese Expansion Project located in the Pilbara region, while Element 25 continues to explore additional funding through other sources including offtake prepayment.