VANCOUVER, British Columbia, May 16, 2011 (GLOBE NEWSWIRE) -- American Manganese Inc. (TSX-V:AMY) and Resource Intelligence Inc. are pleased to announce the completion of an inSITE video featuring the Artillery Peak manganese project. Watch the video now by pasting the link below into your browser window:
Resource Intelligence's Executive Editor Doug Hadfield traveled to Arizona to investigate American Manganese's prospects for becoming the first and only electrolytic manganese producer in the United States.
During the second world war, Time Magazine called manganese America's number one strategic metal. Not much has changed: Few investors are aware that manganese is the fourth most produced metal in the world. It's absolutely vital and irreplaceable: Without it, there would be no steel, aluminum alloys, cell phones or cars as they are made today. That makes a large manganese deposit like Artillery Peak particularly interesting.
And here's the crunch about the Artillery Peak project: 97% of all electrolytic manganese metal (EMM) is produced in China, and China is tightening its belt — not just on manganese exports, but on the export of many strategic metals. Meanwhile, according to Manganese Metal Company of South Africa, demand for EMM grew 26% per year between 2003 and 2009. So whether the company sells to the US or globally, there's no shortage of demand.
In order to take advantage of the nature of the ore at artillery peak, American Manganese had Kemetco Research out of Canada develop a new, patent pending, ultra low cost process for producing Manganese. Watch the inSITE video to see our hosts demonstrate the nature of the ore at Artillery Peak: brittle, friable rock that is inexpensive to mine and process.
As a result — and here's what you have to remember about this deposit — Artillery Peak will produce EMM for as low as $0.44 per pound. Recent 2011 prices for EMM are $1.87 per pound. That's amazing considering that the deposit has 6.69 billion pounds indicated and another 8.9 billion pounds inferred manganese.
In the latest developments, American Manganese has contracted Kemetco once again — this time to develop a low-cost method of producing electrolytic manganese dioxide (EMD) for use in high tech batteries. President and CEO Larry Reaugh expects results by September 2011.
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