American Manganese Inc. (TSX-V:AMY, OTCQB:AMYZF), doing business as RecycLiCo Battery Materials, and its R&D partner Kemetco Research Inc announced that the company has achieved over 99% lithium recovery from lithium iron phosphate (LFP) battery cathode materials during bench-scale tests.
The company said that since 2016, it has facilitated up to 100% extraction of valuable battery materials from chemistries rich in nickel, manganese and cobalt. LFP now joins the list. These battery cathode chemistries all contain lithium, which has risen over 350% in price year-over-year.
"Despite the changing composition and exclusion of nickel, manganese, and cobalt in the cathode-lithium remains a core element in the lithium-ion battery and a significant value driver for efficient and environmentally friendly recycling processes that can achieve high-extraction of lithium," Zarko Meseldzija, CTO of American Manganese said in a statement.
READ: American Manganese hails increase in processing capacity in leaching stage tests at recycling demonstration plant
"I believe we have a lot of momentum going our way with the ongoing demonstration plant project testing scaled-up operating conditions of our process in addition to our continuous innovation in several battery recycling-related topics," he added.
The company said it plans to work with potential strategic partners, such as the battery, electric vehicle, and cathode manufacturers, to integrate its patented technology under a licensing and joint development business model.
According to Benchmark Mineral Intelligence, China's forecasted share of LFP cathode production in 2022 is 99%, while UBS analysts recently raised their outlook of the global LFP battery market share to 40% by 2030.
American Manganese, 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.
Contact the author at jon.hopkins@proactiveinvestors.com