American Manganese Inc.: Artillery Peak Preliminary Feasibility Update
Posted on February 10, 2012 at 11:00 AM EST
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/10/12 -- American Manganese Inc. ("American Manganese" or the "Company"), (TSX VENTURE: AMY)(PINKSHEETS: AMYZF)(FRANKFURT: 2AM), has established an updated release date for the NI-43-101 compliant preliminary feasibility report. The report is now scheduled for the later part of March 2012, as a significant amount of information from several independent commercial suppliers is being compiled for the report.
Pilot Plant Update
Mr. Larry W. Reaugh, President and Chief Executive Officer of American Manganese is pleased to announce that the results of the pilot plant study will be presented at the SME Annual Meeting held in Seattle, WA on February 20, 2012.
What: "Pilot Plant Operations for the Recovery of Manganese from Lower Grade Resources at Artillery Peak, Arizona" (authored by Norman Chow, Dr. Gie Tan and Dr. Anca Nacu of Kemetco Research, and John W. Fisher of American Manganese.) Where: SME Annual Meeting, "Strategic Metals Technical Session" Washington State Convention and Trade Center 800 Convention Pl, Seattle, WA 98101 When: February 20, 2012 2:30p.m. - 5:00p.m.
Copies of the peer reviewed technical paper presented at last year's SME Meeting will also be distributed at this Annual Meeting in the Industrial Minerals Special Issue of the Minerals & Metallurgical Processing Journal, February, 2012. Interested parties are invited to attend. American Manganese staff will be available at the Company's booth in the exhibition hall and will be please to provide further details of the successful pilot plant studies.
China controls electrolytic manganese production supplying and producing 98% of the world's needs (3 billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater than 33 billion pounds per year, fourth largest traded metal).
Manganese is the most critical metal at risk to supply and restriction in the United States as there is no U.S. production. EMM's greatest uses are the upgrading of specialty steel (74%), and the manufacture of aluminum alloys (12%) and electronics (2%).
Electrolytic manganese dioxide (EMD) for the battery industry is expected to be the fastest-growing segment of the manganese market. Ford Motors predicts production of electric vehicles will account for 25% of its entire vehicle line-up by 2020, and Hyundai has committed a lifetime guarantee to their electric vehicles that use lithium ion batteries with manganese spinel.
China has a 20% export duty on EMM and the U.S. has a 14% import duty.
The current world price for electrolytic manganese metal is about $1.30 per pound, while the U.S. price is about $1.63 per pound.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal Company focusing on potentially becoming the lowest cost producer of electrolytic manganese metal from its Arizona Manganese Project.
This release has been reviewed by John W. Fisher, PEng, a qualified person pursuant to National Instrument 43-101.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief Executive Officer
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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