Incentive to Recycle, Explore, and Secure Critical Mineral Supply Chain. Reducing Dependency on US Adversaries
Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMY” or the “Company”), is pleased to report that the US Government recently released the following Executive Order regarding critical minerals (click here).
- President Trump has signed an Executive Order and declared a National Emergency to expand the domestic mining industry, support mining jobs, alleviate unnecessary permitting delays, and reduce the Nation’s dependence on China for critical minerals.
- The Order begins the process for the Department of the Interior to develop a program to use its authorities under the Defense Production Act (DPA) to fund mineral processing that protects national security.
- The action will cut down on unnecessary delays in permitting actions, providing Americans opportunities for jobs, and improving economic and national security.
- The United States is heavily reliant on imports of numerous critical minerals that are critical to America’s national security and economic prosperity, despite the presence of significant sources of some of these minerals across the United States.
- In 2019, President Trump signed five Presidential Determinations finding that domestic production of rare earth elements and materials is essential to the national defense.
- Through this new Executive Order, more funding will be available to help mining projects, thereby strengthening the economy and improving US national security.
As mentioned in the following Forbes article (click here), the Executive order puts RecycLiCo Battery Materials in a favorable position given the Company’s ability to alleviate the identified material dependencies and contribute to a solution as follows:
- The US is 100% import-dependent on manganese and there is no substitution for manganese in the production of steel. Artillery Peak, Arizona contains vast resources of manganese, and RecycLiCo Battery Materials holds a US patent which can potentially be utilized for the production of Electrolytic Manganese Metal (EMM) and Electrolytic Manganese Dioxide (EMD). The Company produced a pre-feasibility report in 2012 on producing EMM from Artillery Peak resources. No action was taken on this pre-feasibility report due to the falling price of manganese, which was a result of overproduction in China.
- The critical materials list includes commonly used lithium-ion battery materials and RecycLiCo Battery Materials holds patents for recycling cathode materials used in lithium-ion batteries with high purity and recovery potential of lithium, nickel, cobalt, and manganese.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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 Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.