Madagascar’s Mines Ministry has granted Evion Group the mining permits for the Maniry Graphite Project, completing the conversion of exploration licenses and securing tenure across all DFS-defined areas, marking a pivotal de-risking milestone. The permits position Maniry as the first critical mineral project approved under Madagascar’s new mining code and reinforce its status as a priority development for the government. Evion highlights regulatory certainty to accelerate discussions with strategic partners, including funding and offtake arrangements, banks, and financiers, while advancing toward a Final Investment Decision and construction. The project benefits from EU endorsement as Africa’s sole graphite supplier to the bloc, ongoing grant funding support, and a downstream Panthera JV in India that provides an integrated, cash-generative platform. Management emphasizes near-term execution, progressing offtake via the EU Energy and Raw Materials Platform and financing talks with the European Investment Bank and KfW as Maniry moves toward production. Financials from the BFS outline a 21-year mine life with staged CAPEX, promising economics that underpin final permits, offtake, and funding discussions as Evion advances toward production.