Manganese X Energy (MN.V) CEO Martin Kepman released a statement explaining key information about manganese mining and processing for investors, aiming to highlight the benefits of manganese mining and its role in Lithium-ion batteries, as well as what Manganese X intends to contribute in this area.
Kepman notes that manganese’s popularity began through its role in modern steel-making, where it is used to impart steel with strength and reduce its brittleness. He also points out that manganese is a key element in the production of lithium-ion batteries, claiming that these batteries “form the core that will power the world in the future”.
The unique selling point (USP) of lithium-ion batteries is safety, durability, and adaptability to users’ needs, on top of the fact that the batteries come with a shorter recharging time than many of their competitors. The need for high-density batteries in products like electric vehicles (EV) and hybrid vehicles (HV) also points to the need for high grade, high purity manganese. Kepman says that Cobalt has fallen out of favour recently, due to its cost of extraction combined with the dangers that come with mining it. Because EVs and HVs are a major part of plans to address climate change, the need for high-quality lithium-ion batteries is only going to increase going forward.
The statement included a reiteration of the company’s mission:
“Our primary mission is simple: Advance our Battery Hill project into production, with the intent of supplying value added materials to the Lithium-ion battery and other alternative energy industries, as well as achieving new carbon-friendly more efficient methodologies, while processing Manganese at a lower competitive cost. We are the only Manganese company in North America moving towards commercialization of a Manganese ore mineral deposit. The property consists of 55 claims covering 1,228 hectares, approximately 5 km northwest of the town of Woodstock in Carlton County, southwestern New Brunswick, 7.5 miles from the Maine US-Canadian border.”
Discussing the mining of manganese ore, Kepman tells readers that more than 25 million tons of manganese ore are mined every year. He goes over recent innovations that allow for more economical manganese mining which produce a higher production yield. He also revisits his support for the Biden administration’s executive order titled ‘America’s Supply Chains’, claiming the order is extremely favourable to Manganese X and its goals.
The statement also discusses their recent partnership with Kemetco and its benefits:
“Manganese X Energy (MXE) is presently shipping a bulk sample taken from its 2020 drill program to Kemetco Research Inc of Vancouver that will be used for further refinement of two previous phases of testing that resulted in a recovery rate of 85% Mn and purification testing that produced a 99.95% pure MnS04, product suitable for the EV and Hybrid vehicle and energy storage battery market. The current testing will focus on refining the leaching processes and enhancing the flow sheet with an eye to even greater efficiencies and processing cost reductions,” stated Perry MacKinnon, P.Geo VP of Exploration for Manganese X.
Kepman finishes his statement by noting that the “market is hot now” due to many major car companies developing electric vehicles and their interest in using lithium-ion batteries instead of cobalt batteries, due to lithium-ions superior safety.
Full disclosure: Manganese X Energy is an Equity.Guru marketing client.