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American Manganese Inc. (CVE:AMY) reports that CPM Group has began to develop an electrolytic manganese market study for its Artillery Peak manganese project located in Mojave County, Arizona.
The press release is quoted as saying:
China controls electrolytic manganese production (EMM) supplying and producing 97.44% of the world’s needs (2.6 billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater than 30 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%).
American Manganese’s President and CEO, Mr. Larry Reaugh says:
“The market study represents a major component of the previously announced preliminary feasibility study that is currently underway and is scheduled for completion this fall.”
Click here to access the entire news release.
Click here to access American Manganese’s company profile.(TSXV:AMY)