Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMI” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: 2AM), is pleased to announce that the Company has contracted Kemetco Research Inc. to perform “Proof of Concept” testing of the Company’s proprietary hydrometallurgical process for the recycling of cathode materials of Lithium Ion electric drive vehicle (EDV) batteries.
Mr. Norman Chow, President of Kemetco research Inc., says: “There is currently no known commercial technology for large scale recycling of cathode materials of multiple chemistries. Spent cathode materials represent an ideal feedstock to be processed with American Manganese’s proprietary hydrometallurgical process”. Independent third party examination of the process concurred that it should be technically viable.
Currently, the demand for lithium for use in electric vehicle battery cathode materials is outstripping the available supply. The price of lithium carbonate feedstock in North America at present is about US $6400/tonne. Recently reported Chinese spot prices have been triple this amount.
One factor driving demand is that the first generation EDV batteries are reaching the end of their life cycle. A Recycling International article dated January 12, 2016 by Kristen Linnenkoper, Titled “EDV Batteries Present big Recycling Opportunity”, reports that 276,000 electric drive vehicle batteries expired or left service by in 2015. It estimates that this number will increase to 358,000 by 2020 and 849,000 by 2025. These spent batteries are a growing feedstock for recycling and upcycling efforts.
“The Company is positioned to take a leading role in providing solutions to the emerging rechargeable EDV battery market”, says Mr. Reaugh. “The Company’s patented hydrometallurgical manganese extraction process is well suited to recycle and produce any or all of the high value-added cathode materials including Lithium, Cobalt, Nickel, and Manganese.
About Kemetco Research Inc.
Kemetco Research Inc. is a privately owned contract research and development company specializing in extractive metallurgy, chemical processing and specialty chemical analysis. It was formed after the acquisition of the industrial process division of B.C. Research, which had been in operation for over 60 years as a research and development contractor in British Columbia.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium-ion rechargeable batteries.
Interest in the Company’s patented process has adjusted the focus of American Manganese Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Company’s March 31, 2016 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer