American Manganese
American Manganese, Inc. (“AMY or the company”) is pleased to announce the availability of its common stock for digital clearing and settlement by the Depository Trust Company. The acquisition of this product from AMY for processing through the Trustee Benefit Company (“DTC”) has been entered into in connection with a net cash flow financing agreement between AMY and DTC. The funding agreement contained terms including terms requiring AMY to pay to DTC all costs and fees directly resulting from credit card transactions processed by AMY’s automated clearing house (“cleaning”) system.
The low-grade manganese metal used in the manufacture of stainless steel and other stainless steel goods is susceptible to contamination from external sources. A low-grade manganese metal manufacturing process yields low-grade manganese metal that is unable to withstand extreme stresses and strain. Distinct types of chemicals can be identified in low-grade manganese metal that can degrade or impurity in the metal. These chemicals include nickel, chromium, cadmium, and manganese alloys. In the United States Department of Defense, AMY is responsible for overseeing the chemical management requirements of the Depository Trust Corporation (“DTC”), which is the financial entity providing credit on credit transactions for the U.S. Department of Defense.
The U.S. Depository Trust Corporation is the overseer of the global deposits of all U.S. dollar bills. DTC owns the exclusive rights to manage these deposits. The Depositary Receipts Authority (“DROA”) governs all banking transactions involving the valuables held in the Depositary Receipts Account (“DRACA”). The Depository Receipts Account is managed by AMY through its subsidiary corporation, American Manganese, LLC. This corporation is primarily responsible for managing the quality control of American Manganese, LLC’s lithium ion batteries manufacturing facility. This is done through a series of quality audits performed by AMY’s lithium battery production quality laboratory.
American Manganese and Canada
The International Property Investment Fund (“IPI”) has recently announced that it plans to raise an additional $5.8 million from a number of sources to expand its existing lithium battery cathode material recycling technology. The funding will be used to improve its testing and production processes for its new technology. Recently, another large Canadian company, Aurora Energy, filed a patent for what they claim is an improved lithium battery cathode material. While Canadian officials confirmed that there is indeed a possibility of a joint venture between Aurora and AMY, it appears that this was considered far too premature by Canadian officials. As such, it appears that Canadian lithium battery technology may be limited at this time to either the development of new technologies, or the licensing of existing technologies.
Another potential route for American Manganese is via the Global Liquidity Facility (“GLF”). The GLF contract was originally signed in 2021 with the United States Military Services Contracting Office (“USMS”). Currently, the USMS is responsible for managing the distribution of American Manganese to allied forces worldwide. In 2021, Canadian officials claimed that the GLF was in the process of awarding a Canadian firm a GLF-type contract for the “production” of American Manganese in Afghanistan. This is currently the only contract awarded between Canadian and the US military for the transportation of manganese, despite the GLF’s proposed plans to expand their activities overseas.
There is also the possibility of American Manganese moving to a different low-grade alloy, although that prospect is not likely to materialize anytime in the near future. Currently, American Manganese is manufactured in the low-grade alloy category using materials such as cobalt aluminum oxide, and high-grade steel. The possibility of transitioning to higher grade materials such as the stainless steels used in modern navigation systems is unlikely to happen anytime in the near future, either, as that technology is not yet available in the United States. For now, American Manganese is supplied by a primarily low-grade alloy in its raw form from Japan.