07:51 AM EDT, 03/26/2025 (MT Newswires) -- Euro Manganese ( EUMNF ) said overnight Tuesday that its Chvaletice manganese project in the Czech Republic has been designated a strategic project under the European Union's Critical Raw Materials Act.

The designation gives the project potential access to numerous private and public sources of funding, including the European Investment Bank, the European Bank for Reconstruction and Development and private financial institutions.

Euro Manganese ( EUMNF ) also expects permitting processes to proceed, decreasing scheduling risk related to permitting.

"Today's announcement reaffirms our commitment to becoming the sole integrated European producer of high-purity manganese, an essential component in the transition to a greener economy," interim CEO Martina Blahova said.

Euro Manganese's ( EUMNF ) share price surged 22% on Tuesday to $0.055 on the TSXV.