American Manganese Inc.: Tesla's Gigafactory Sparks New Interest for Secure Lithium Ion Battery Raw Material Sources
March 26 2014 - 6:00AM
Marketwired
American Manganese Inc.: Tesla's Gigafactory Sparks New Interest
for Secure Lithium Ion Battery Raw Material Sources
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 26, 2014) -
Larry W. Reaugh, President and Chief Executive Officer of American
Manganese Inc. ("American Manganese" or the "Company"),
(TSX-VENTURE:AMY)(PINKSHEETS:AMYZF)(FRANKFURT:2AM), says that: "The
recent (February 26, 2014) announcement by Tesla Motors of the
imminent construction of a Lithium Ion Battery Gigafactory has
raised the bar for electric vehicle production." Initial production
from the Gigafactory is scheduled for 2017, and full production
scheduled for 2020. At full capacity, the facility would
manufacture as many lithium ion batteries as the 2013 total world
production.
Arizona, Nevada, New Mexico, and Texas are vying to host the
manufacturing facility. Arizona has been most aggressive thus far,
as proposed bill 2123 in the state legislature would legalize
direct sales of Tesla electric cars within the state. Tucson
Arizona (Pima County) has submitted a formal proposal to Tesla to
become the host site. Another communication from Mohave County
Economic Development to Tesla referred to the Company's Artillery
Peak Manganese Project as an additional incentive to locate in
Mohave County.
American Manganese has a patented hydrometallurgical process for
the commercial production of Electrolytic Manganese Metal (EMM),
Electrolytic Manganese Dioxide (EMD), and Chemical Manganese
Dioxide (CMD) from manganese resources. EMD and CMD are used in dry
cell and rechargeable batteries.
Lithium Manganese Dioxide (LMD), or spinel, rechargeable
batteries are currently being used in the Chevy Volt and Nissan
Leaf electric vehicles. The Company successfully produced
rechargeable lithium ion battery prototypes utilizing high purity
CMD from their Artillery Peak manganese resource in late 2012. CMD
eliminates the use of expensive electroplating cells and high
electricity costs. Mr. Reaugh concludes by saying that: "It is my
belief that Tesla's project is concrete evidence of the growth and
viability of the electric car market, resulting in greater demand
for lithium ion batteries. The need for secure metal feed stocks
used to make these batteries; such as Manganese, Cobalt, Lithium,
Carbon, and others; will correspondingly increase to meet the
soaring electric vehicle demand."
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 products from its Arizona
Manganese Project.
This release has been reviewed by Michael MacLeod, P. Eng., a
qualified person pursuant to National Instrument 43-101.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief Executive Officer
www.americanmanganeseinc.com
The TSX-Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. 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.
American Manganese Inc.Larry W. ReaughPresident and Chief
Executive
Officer604-531-9639lreaugh@amymn.comwww.americanmanganeseinc.com
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