08:23 AM EST, 01/23/2025 (MT Newswires) -- Giyani Metals ( CATPF ) said Thursday that it secured a 50-year special economic zone investor license for its battery-grade manganese commercial plant to be built in Botswana.

The company said the license grants it a range of fiscal and non-fiscal incentives, including reduced tax rates, zero-rated VAT on raw materials for export, and operational support from the government.

The plant will be constructed near Giyani's K.Hill manganese mine site.

"With the addition of significant benefits such as significant corporate tax reduction and fast-tracked issuance of permits for skilled personnel, this license not only supports sustainability ambitions but has clear economic and operational benefits that will ultimately catalyze commercial plant construction," said Charles FitzRoy, Giyani's president and CEO. "This in turn will drive sustainable economic growth in Botswana and solidify its role in the global supply chain for critical battery metals."

Giyani's share price plunged 13% to a 52-week low of $0.07 on the TSXV.