SURREY, BC / ACCESSWIRE / January 31, 2020 / Larry W. Reaugh, President and C.E.O. of American Manganese Inc.(TSX.V:AMY)( OTC PINK:AMYZF)(FSE:2AM) ("AMY" or the "Company") is pleased to report on new government actions that will positively affect lithium-ion battery recycling around the world.
The regulations and government actions are as follows:
- The European Union has approved 3.2 billion euros ($3.5 billion) in subsidies for seven member countries (Belgium, Finland, France, Germany, Italy, Poland, and Sweden) that want to develop the electric battery industry and challenge China's supremacy.
- China's Ministry of Industry and Information Technology has recently set new regulations requiring that electric vehicle batteries being recycled must achieve recoveries of 98% nickel, cobalt and manganese and 85% of lithium. Smelting batteries return about 50-60% of the Cobalt and very little of the other metals with no recovery of lithium.
"These actions are signs that governments are looking to incentivize innovation," said Larry Reaugh, CEO of American Manganese. "AMY's pilot testing has surpassed the proposed recovery regulations and positions the Company front and center in the effort to meet these new government objectives".
AMY also reports progress on other fronts:
AMY's research and development contractor, Kemetco Research, has obtained preliminary results on the previously announced cathode material samples received from the U.S. Department of Energy's Critical Materials Institute project and will be announced when completed.
"These new regulations and Government expenditures which focus on recycling lithium-ion batteries greatly favours AMY's Pilot Plant tested technology as a leader in closed circuit green technology for recovering of up to 100% of the valuable cathode metals," said Mr. Reaugh.
The Company expects to receive a proposal from Kemetco on the budget for the Preliminary Economic Assessment and engineering design in the near term. In support of the commercialization plans, American Manganese is applying for a second grant application from the Canadian Government. American Manganese looks forward to providing updates to these initiatives when possible.
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCoTM Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at battery-grade purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCoTM Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: [email protected]
www.americanmanganeseinc.com
www.recyclico.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.