Manganese Investing

RecycLiCo Battery Materials Commends Climate-Focused Critical Minerals Provisions in New U.S. Law

American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) ("Company"), doing business as RecycLiCo Battery Materials, a pioneer in advanced lithium-ion battery recycling and upcycling, offers the following comments on the climate-focused Critical Mineral provisions in a new bill signed into law by U.S. President Joe Biden this week.

The bill, formally known as the Inflation Reduction Act of 2022, includes a 10% advanced manufacturing production tax credit that spans the production of critical battery minerals to downstream production of cathode and anode materials used in lithium-ion batteries. In an extensive section on energy security and climate change, the bill also includes more than $60 billion to incentivize renewable and clean energy manufacturing in the U.S. Eligibility is open to companies operating in North America or from countries with which the U.S. has a formal trade agreement.

Tax credits for electric vehicles (EVs) are restored, but with restrictions based on where the batteries are built and where the critical materials in the batteries are mined, recycled, or processed. According to the Congressional Research Service's summary of tax provisions in the bill:

"To receive the $3,750 critical minerals [tax] credit, the vehicle's battery must contain a threshold percentage (in value) of critical minerals that were extracted or processed in a country with which the United States has a free trade agreement, or recycled in North America. The threshold percentage would be 40% through 2023, increasing to 50% in 2024, 60% in 2025, 70% in 2026, and 80% after 2026.

To receive the $3,750 battery components portion of the credit, the percentage of the battery's components manufactured or assembled in North America would have to meet threshold amounts. For vehicles placed in service through 2023, the percentage would be 50%. The percentage increases to 60% for 2024 and 2025, 70% for 2026, 80% for 2027, 90% for 2028, and 100% after 2028."

In recognition of geopolitical concerns and supply chain vulnerabilities, the bill prohibits taking the EV tax credit on any vehicle purchased after December 31, 2024, in which battery materials are sourced from "foreign entities of concern," defined in U.S. law as China, Russia, Iran or North Korea.

"The new law comes less than four months after the U.S. designated the major battery materials -- including those RecycLiCo will extract from spent batteries -- as essential materials under Title III of the Defense Production Act of 1950," said Dan McGroarty, a member of the Company's Advisory Board. "I see this as a strong signal that U.S. policymakers are coming to understand that the 'battery criticals' are true dual-use materials, required for the national economy as well as national security." The law authorizes an additional $500 million for the Department of Defense to use to encourage the production of Title III materials.

The bill aligns with the Company's efforts to advance its RecycLiCo patented process and follows the latest company developments such as the demonstration plant project achieving 163% of its designed leach processing capacity, a third-party life cycle assessment that reports RecycLiCo's lower environmental impact to produce battery materials, and the production of NMC811 cathode precursor material.

About American Manganese Inc.

American Manganese Inc, doing business as RecycLiCo Battery Materials, is a battery materials company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.

On behalf of Management
American Manganese Inc.

Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com

www.americanmanganeseinc.com
www.recyclico.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

Source

Click here to connect with American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) to receive an Investor Presentation

AMY:CA
RecycLiCo Battery Materials

RecycLiCo Battery Materials Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
RecycLiCo Battery Materials

RecycLiCo Battery Materials


Keep reading...Show less
Richard Sadowsky Appointed as Interim CEO; Kurt Lageschulte Returns to the Board of Directors

Richard Sadowsky Appointed as Interim CEO; Kurt Lageschulte Returns to the Board of Directors

-

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, is pleased to announce that the Company's Board of Directors has appointed Richard Sadowsky, a member of the Company's Board since November of 2023, as its new Interim CEO.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Battery Materials Announces Zarko Meseldzija resigns from the Board of Directors

RecycLiCo Battery Materials Announces Zarko Meseldzija resigns from the Board of Directors

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, hereby announces that Mr. Zarko Meseldzija has resigned from his position on the Board of Directors as of January 21, 2024. As previously communicated, Mr. Meseldzija will continue his association with the Company until March 1, ensuring a smooth transition.

About RecycLiCo

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Battery Materials Announces Zarko Meseldzija to Step Down from CEO and Board Positions

RecycLiCo Battery Materials Announces Zarko Meseldzija to Step Down from CEO and Board Positions

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, announced today that Zarko Meseldzija will be stepping down from his roles as Chief Executive Officer of the Company and as a member of the Company's Board of Directors.

The Board has begun searching for a successor to lead the Company in its growth phase to become a leading supplier of sustainable lithium-ion battery recycling technology. Mr. Meseldzija will remain with the Company through February 29, 2024 and will be assisting with the transition process, which is not expected to have any adverse impact on the Company's project timelines or day-to-day operations.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo's Recycled Battery-Grade Lithium Carbonate Successfully Tested in LFP Battery

RecycLiCo's Recycled Battery-Grade Lithium Carbonate Successfully Tested in LFP Battery

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, a pioneer in sustainable lithium-ion battery recycling technology, is pleased to announce that the Company's recycled lithium carbonate, from lithium-ion battery waste, has passed a comprehensive suite of tests conducted by a battery materials company in Asia.

RecycLiCo's lithium carbonate, contained in a Lithium Iron Phosphate (LFP) battery, was subjected to several industry-standard tests, including LFP fabrication and cell testing. The results indicate that the Company's lithium carbonate has met, and surpassed the specifications required by the battery materials company, thus demonstrating the recycled product's battery-grade quality.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Battery Materials Secures Key European Patent for Lithium-ion Battery Recycling 

RecycLiCo Battery Materials Secures Key European Patent for Lithium-ion Battery Recycling 

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, a pioneer in sustainable lithium-ion battery recycling technology, is pleased to announce that the European Patent Office (EPO) has issued an official communication indicating its intention to grant the Company's first of two patent applications (Patent Application No. 17870326.0) for its innovative lithium-ion battery recycling process. This milestone marks a significant step forward in the Company's efforts to strengthen its intellectual property portfolio across key global markets.

With the EPO's positive stance, the Company will be strategically reviewing Europe's planned and operational Gigafactories, as tracked by CIC energiGUNE , in consideration of which countries to select for validation. This selection reflects the company's commitment to establishing a strong presence in significant European markets, where there is a growing emphasis on electrification and sustainable battery technologies.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
AM Resources (TSXV: AMR)

AM Resources Identifies 49 New Pegmatites on its Significant Land Package in the Austrian Pegmatite Belt

AM Resources Corporation (“AM Resources” or the “Company”) (TSXV: AMR) (Frankfurt: 76A), a dynamic junior mining company focused on the exploration and development of high-potential pegmatite lithium deposits, is pleased to announce the discovery of 49 new pegmatites within an area of 12,32 km2. These pegmatites consolidate the Company’s strategic position in one of Austria’s most prospective lithium areas.

  • Recently announced 1,500 km2 land package gives AM Resources control over a large area of the Austrian Pegmatite Belt (see press release dated March 21, 2024).
  • Land package also includes the Valerie Property, where 27 pegmatites have been identified over an area of 7.2 km2, and the Emilia Property, where 22 pegmatites have been identified over an area of 5.12 km2.
  • AM Resources properties are located within a 620 km radius of 14 battery plants.

AM Resources’ 1,500 km2land package

Keep reading...Show less
Pursuit Minerals

Pilot Plant Commences First Phase of Operations

Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to provide the following update on key developments for its Lithium Carbonate Pilot Plant which has commenced the first phase of operations to produce Lithium Carbonate.

Keep reading...Show less
First Nations totem pole with mining trucks.

First Nations Engagement Key as Critical Minerals Boom Sweeps Canada

As Canada prepares to ramp up its efforts to supply the growing critical metals value chain, consulting with the country’s many First Nations communities is becoming more important than ever.

Demand for these key metals is projected to balloon over the next two decades. It is estimated that by 2050, 1.4 billion metric tons of copper will be required to facilitate electrification needs, with dozens of new mines needed.

For context, the total amount of copper mined throughout human history only tallies 700 million metric tons.

Keep reading...Show less
Nevada Sunrise Metals President and CEO Warren Stanyer.

Nevada Sunrise Metals CEO Shares 2024 Plans to Advance Gemini Lithium Project

Nevada Sunrise Metals (TSXV:NEV) President and CEO Warren Stanyer said the company's next steps at its Gemini lithium project in Nevada are to undertake further drilling, bring it to the preliminary economic assessment( PEA) stage and find the right partners to move it forward.

“We drilled five holes right into the spring of 2023. That led to the production of a NI 43-101 compliant resource of 7.1 million metric tons of lithium carbonate equivalent, which is beyond our expectations. We really didn't know what we were going to get,” he said. “The deposit is open in basically all directions. So really it's drilling more, getting to the PEA stage (and) attracting a big industry partner. Those are our goals for the project.”

Gemini has emerged as one of the world's largest lithium resources, and the fourth largest in the US, according to Stanyer. And with more drilling planned for the project, the company is preparing to finance the next steps for Gemini.

Keep reading...Show less
Galan Lithium

Galan Investor Presentation Singapore March 2024

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to present its investor presentation.

Click here for the full ASX Release

Keep reading...Show less
Lithium Universe

Extension To Share Purchase Plan

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7") provides the following update regarding its $3.0 million Share Purchase Plan (SPP), as announced on 13 March 2024 (ASX release: LU7 Launches Share Purchase Plan).

Keep reading...Show less
RecycLiCo Battery Materials

RecycLiCo Battery Materials Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×