RE:RE:American Manganese Reports Significant Rare Earth Values CORRECTION---------------------------------------that link was incomplete
American Manganese Inc. commented today on the decision by United States president Joe Biden to invoke the Defense Production Act (DPA) of 1950 to accelerate the development of essential battery materials, including lithium, cobalt, nickel, manganese and graphite. Under the long-standing DPA authorities, the presidential action carries the force of U.S. federal law and opens up funding authorities ranging from federal loans and loan guarantees, to grants financing production facilities, material purchases and futures contracts.
The presidential determination states in part:
"The United States depends on unreliable foreign sources for many of the strategic and critical materials necessary for the clean energy transition -- such as lithium, nickel, cobalt, graphite and manganese for large-capacity batteries. Demand for such materials is projected to increase exponentially as the world transitions to a clean energy economy.
"To promote the national defence, the United States must secure a reliable and sustainable supply of such strategic and critical materials. The United States shall, to the extent consistent with the promotion of the national defence, secure the supply of such materials through environmentally responsible domestic mining and processing; recycling and reuse; and recovery from unconventional and secondary sources, such as mine waste."
"President Biden's official DPA statement recognizes recycling as an essential means of meeting rising demand," said Larry Reaugh, chief executive officer of American Manganese. "American Manganese, with its RecycLiCo process, is well positioned to deliver sustainable, high-purity supply of four of the five materials the U.S. government is now prioritizing as essential to its national defence."
American Manganese's patented RecycLiCo process is focused on the recycling and upcycling of lithium-ion battery waste into high-value battery cathode materials. With minimal processing steps and up to 99-per-cent extraction of lithium, cobalt, nickel and manganese to create high-value lithium-ion battery materials for reintegration into new lithium-ion battery manufacturing.
The company announced on March 15, 2022, that its RecycLiCo demonstration plant in Vancouver, Canada, is ready for commissioning and is scheduled to demonstrate continuous operating conditions with a processing capacity of 500 kilograms per day of lithium-ion battery waste once commissioning is complete. The demonstration plant is intended to validate scaled-up processing efficiencies and qualify the lithium, nickel, manganese and cobalt battery materials produced. The company's ultimate business model is to license and joint venture its patented RecycLiCo process to battery and electric vehicle manufacturers as an in-house technology that offers a circular supply of critical battery minerals.
About American Manganese Inc.
American Manganese is a critical metals company focused on recycling and upcycling lithium-ion battery waste into high-value battery cathode materials, using its closed-loop RecycLiCo process. With minimal processing steps and over 99-per-cent extraction of lithium, cobalt, nickel and manganese, the upcycling process creates valuable lithium-ion battery materials for direct integration into the remanufacturing of new lithium-ion batteries.
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