What's Going On With American Manganese?
American Manganese (AMYZF) today announced the successful production of Electrolytic Manganese Metal (EMM) in the final stages of the Wenden Stockpile Reclamation and Advanced Material Processing project. Shares of the company were trading 2.28% higher to $0.8566 a share on Thursday.
What Does This Mean For American Manganese?
The Company's EMM Project was wholly funded by the Unites States Department of Defense's Defense Logistics. The project's potential for the 322,000 metric tons of Wenden stockpile materials stands to be the only domestic source of EMM in the U.S. The United States considers Manganese a critical mineral and, in fact, one of 14 minerals or metals for which the U.S. is 100% import-dependent.
"Our lab-scale experiments over the last year have given us key insights into the Wenden Stockpile material, allowing AMY to develop a purpose-built material processing flowsheet, that we will report to the DLA," said Larry Reaugh, President and CEO of American Manganese. Adding, "we see great potential in the reclamation of the Wenden Stockpile and welcome an opportunity for continued cooperation with the DLA to potentially turn the Wenden Stockpile into the only domestic source of Electrolytic Manganese Metal in the U.S."
American Manganese Inc., a metals company, focuses on developing and commercializing a hydrometallurgical process for recycling lithium-ion batteries.
AMYZF has a Short-Term Technical Rank of 25. Find out...
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