Ragusa Seizes Control of Key US Manganese-Gold Project in Arizona

Strategic Acquisition in US Critical Minerals

Ragusa Minerals Limited (ASX – RAS) has taken a significant step into the US critical minerals arena by executing a binding Heads of Agreement to acquire a 60.09% controlling interest in Pegasus Tel Inc. This move grants Ragusa access to the Purple Pansy Manganese-Gold Project, situated in Arizona’s Aguila Mining District, approximately 80 kilometers northwest of Phoenix.

The Purple Pansy Project is notable for its historical manganese and gold mining operations. Manganese, a mineral designated as critical by the US Department of Energy and Department of Defense, plays a vital role in national defense, steel production, and the burgeoning battery manufacturing industry. The United States currently imports 100% of its manganese, underscoring the strategic importance of domestic projects like Purple Pansy.

Alignment with US Government Priorities

The project’s location near the Wenden Manganese Stockpile; a US government reserve approximately 20 kilometers west; highlights its strategic significance. Additionally, the nearby Hermosa Project, backed by substantial federal funding, exemplifies the US government’s commitment to rebuilding domestic critical mineral supply chains. Ragusa’s acquisition aligns closely with these national priorities, positioning the company to benefit from initiatives such as the FAST-41 permitting process and potential federal grants.

Arizona itself is rapidly emerging as a hub for battery and energy storage manufacturing, hosting major developments like LG Energy Solution’s $5.5 billion battery complex in Phoenix and other lithium and battery gigafactories. This proximity offers Ragusa immediate access to end-user markets and potential partnerships, enhancing the commercial prospects of the Purple Pansy Project.

Strategic Partnerships and Development Plans

Beyond the acquisition, Ragusa has secured a strategic relationship with the vendors, Red Beryl Mining Company and Steven Cyros, who will become significant shareholders in Pegasus. Their expertise in US project generation and development adds valuable operational depth. Red Beryl Mining Company will also provide ongoing support for two years post-completion, assisting with investor relations and district-scale development strategies.

Ragusa plans a comprehensive work program including review of historical data, geological assessments, drilling and sampling to confirm mineralisation, metallurgical testing, and baseline environmental studies. These efforts aim to advance the Purple Pansy Project from exploration through to feasibility and development, leveraging its critical mineral status and strategic location.

Looking Ahead

The transaction is subject to customary conditions precedent, including due diligence and regulatory approvals, with completion anticipated by late December 2025. If successful, Ragusa will hold a controlling interest in a project that could become a cornerstone of US manganese supply, contributing to national security and the clean energy transition.