American Manganese Inc.: Chinese EMM Market Review Identifies Supply/Demand Window for New Western Production and Project Upd...
30 Novembre 2011 - 12:00PM
Marketwired
Larry W. Reaugh, President and Chief Executive Officer of American
Manganese Inc. (TSX VENTURE:AMY)(PINK SHEETS:AMYZF)(FRANKFURT:2AM)
("American Manganese" or the "Company") is pleased to announce the
Company has received the report titled: "A Study of Electrolytic
Manganese Metal (EMM) Industry and China's Dominating Effects to
the Global Market", prepared by JF Zhang Associates of Vancouver,
BC Canada.
Highlights of the Report Include:
-- China electrolytic manganese metal (EMM) production is to be
consolidated;
-- China to find balance of EMM production, protect environment and
depleting resources;
-- China leading in steel and EMM production;
-- EMM production costs are rising in China;
-- Necessity of EMM production in western countries;
Click here to view Report:
http://www.amydata.com/data/reports/China%20Impacts%20(EMM)%20v108.pdf
Mr. Reaugh states that, "The report confirms that Chinese EMM
production capacity will likely decline to between 1.3 and 1.5
million tonnes as a direct result of imposed industry
consolidation; while the demand for EMM metal could increase from
about 1.3 million tonnes today to over 2.6 million tonnes by 2015.
The increased demand appears to be driven by the rapidly growing
domestic use of high quality specialty steels and 200 Series
stainless steel products. The report also highlights that the era
of low cost Chinese production is over due to: Depleting resources
and declining head grades; rapidly rising labour and energy costs;
and increased capital intensity for new Chinese projects to meet
much higher regulatory compliance thresholds for increased energy
efficiency, safety and environmental protection."
Mr. Reaugh goes on to say: "The Artillery Peak Project is well
positioned with its large resource, and potentially much lower EMM
production cost, to capitalize on this emerging opportunity. The
Company is financially strong with $5 million in the bank, more
than enough to complete the ongoing pilot plant test,
pre-feasibility study and environmental and regulatory permitting
as well as begin the final feasibility report."
Pilot Plant and Pre-feasibility Update
The Company expects to receive an update shortly from Kemetco
regarding the results of the final three tests of the
nano-filtration, chilling unit, and electroplating and metal
production unit operations.
These results will be incorporated into the pre-feasibility
study being conducted by Wardrop Engineering (A Tetra Tech Company)
which is not expected until mid-February, 2012.
The current NI 43-101 compliant resource estimate of the
Artillery Peak Manganese deposit includes an Indicated resource of
about 220.9 million tonnes grading 2.84% Mn (13.83 billion lbs
contained Mn), and an Inferred resource of about 56.3 million
tonnes grading 2.84 % Mn (3.53 billion lbs contained Mn).
About JF ZHANG ASSOCIATES INC.
JF ZHANG ASSOCIATES INC. is a Vancouver-based research and
advisory firm with particular focus on energy, mining, and
agricultural business markets in China. Managed by a group of
highly qualified and experienced professionals with diversified
backgrounds and track records, it conducts research for their
clients and helps them resolve the most important strategic issues
faced in understanding China's markets. With its broad network,
on-the-ground and well-connected affiliates, and more than 50-years
accumulated transactional experiences in these sectors, we provide
investment insight to foreign clients regarding Chinese dominated
markets and help Chinese companies to access opportunities outside
of China.
For more information about JF ZHANG ASSOCIATES, please visit:
www.JFzhang.com.
About Manganese
China controls electrolytic manganese production (EMM) supplying
and producing 98.44% of the world's needs (3.0 billion pounds per
year).
There is no substitute for manganese in steel (total manganese
market greater than 31 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 US production.
EMM's greatest uses are the upgrading of specialty steel (47%), and
the manufacture of aluminum alloys (32%) and electronics (14%).
Electrolytic manganese dioxide (EMD) for the battery industry is
expected to be the fastest growing segment of the manganese
market.
China has a 20% export duty on EMM and the US has a 14% import
duty.
The current world price for Electrolytic Manganese Metal is
about $1.45/lb, while the US price is about $1.84/lb.
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 from its Arizona Manganese
Project. The Company is well financed to execute its contemplated
work programs.
This release has been reviewed by John W. Fisher, 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
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.
Contacts: American Manganese Inc. Larry W. Reaugh President and
Chief Executive Officer 604-531-9639 604-531-9634
(FAX)www.americanmanganeseinc.com
Grafico Azioni Recylico Battery Materials (TSXV:AMY)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Recylico Battery Materials (TSXV:AMY)
Storico
Da Dic 2023 a Dic 2024