View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
December 4, 2014

Star Minerals Group signs Minnesota manganese mine deal

Star Minerals Group has signed a memorandum of understanding (MoU) with Cooperative Mineral Resources (CMR) and energy storage company Octopus Technologies (OTI) to cooperate on developing a mine-to-market manganese-based battery technology in the US.

Star Minerals Group has signed a memorandum of understanding (MoU) with Cooperative Mineral Resources (CMR) and energy storage company Octopus Technologies (OTI) to cooperate on developing a mine-to-market manganese-based battery technology in the US.

Free Report
img

Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

Star and CMR, which is owned 100% by Crow Wing Power, intends to enter an agreement forming a joint venture (JV) to develop the Emily Manganese/Iron Ore Project.

Upon establishing the technical and economic viability of the Emily Manganese/Iron Ore Project, Star intends to fully develop it.

"Currently, there is no production of electrolytic manganese in North America, a key factor for this continent to remain globally competitive in the green energy field."

Initially the focus will be on the production of EMD to be sold to OTI in an offtake agreement between OTI and the CMR/Star JV under terms to be established.

In turn, OTI has completed and signed a sales distribution agreement, for its storage battery, with a significant global player in the market.

CMR and Star intend to complete and sign the JV agreement by the end of February 2015, when OTI and the JV will also have signed the offtake agreement.

According to Star, the components of the mine-to-market business model are said to be in their early stages, from mine development to the testing, certification and production of batteries.

Star Minerals president and CEO Jim Engdahl said: "I am extremely excited about this project and pleased to be working with the high calibre of people from CMR and OTI in developing what has the potential to be an important type of storage battery for specific applications."

CMR CEO Bruce Kraemer said: "Currently, there is no production of electrolytic manganese in North America, a key factor for this continent to remain globally competitive in the green energy field."

Energy

Related Companies

Free Report
img

Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology