American Manganese Inc (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) was featured in a Bloomberg article regarding an alternative source of cobalt in the form of battery recycling. This approach, the article suggested, is one that would help address the demand for cobalt required for the increased production of electric vehicles.
American Manganese CEO Larry Reaugh was interviewed for the piece, and he highlighted the viability of extracting pure-grade cobalt from used or faulty batteries. “Mining batteries is much more profitable than mining the ground,” said Reaugh. “Rather than mining ore that’s 2 percent cobalt, you’re mining a battery that has 100 percent cobalt in it.”
This approach to ‘mining’ cobalt is also appealing to the market as the majority of cobalt is sourced from the Democratic Republic of Congo (DRC), a jurisdiction that does not always partake in best-practice mining.
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