American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) announced that the Company has contracted Kemetco Research Inc. to perform “Proof of Concept” testing of the Company’s proprietary hydrometallurgical process for the recycling of cathode materials of Lithium Ion electric drive vehicle (EDV) batteries.
As quoted in the press release:
Currently, the demand for lithium for use in electric vehicle battery cathode materials is outstripping the available supply. The price of lithium carbonate feedstock in North America at present is about US $6400/tonne. Recently reported Chinese spot prices have been triple this amount.
One factor driving demand is that the first generation EDV batteries are reaching the end of their life cycle. A Recycling International article dated January 12, 2016 by Kristen Linnenkoper, Titled “EDV Batteries Present big Recycling Opportunity”, reports that 276,000 electric drive vehicle batteries expired or left service by in 2015. It estimates that this number will increase to 358,000 by 2020 and 849,000 by 2025. These spent batteries are a growing feedstock for recycling and upcycling efforts.
Kemetco Research President, Norman Chow, stated:
There is currently no known commercial technology for large scale recycling of cathode materials of multiple chemistries. Spent cathode materials represent an ideal feedstock to be processed with American Manganese’s proprietary hydrometallurgical process.
Connect with American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) to receive an Investor Presentation.
The post American Manganese Contracts Kemetco for “Proof of Concept” Research on Recycling Lithium Ion Rechargeable Batteries appeared first on Investing News Network.