Martin Kepman, CEO of Manganese X Energy Creates Web Resource – Explains Why Investors Should Be Interested in Canadian Manganese Deposits
Manganese as an essential component in steel production is poised to replace cobalt in lithium ion batteries, manganese a future-friendly investment along with being ecologically green friendly.
Martin Kepman, CEO of Manganese X Energy
Manganese is the fourth most widely used metal globally, with 90% of usage being attached to steel and development industries. China is the world’s biggest purchaser of manganese.
The cost of mining manganese, however, has consistently been volatile throughout the past several years because of ethical issues in sourcing or the use of selenium (a highly toxic mineral) in processing high-quality manganese.
Manganese is an important component of the steel production process, which makes it extremely relevant to the vast majority of production industries, which rely heavily on steel. It is also projected to replace cobalt in lithium ion battery production because it is less toxic and more economical to produce.
“We foresee greater demand for manganese arising from electric vehicle EV expansion, resulting in an upward price for manganese,” explains CEO of Manganese X Energy, Martin Kepman. Reasons for increased future demand include plans by Tesla and Volkswagen’s respective plans to open multiple gigafactories across the world, in addition to Ford and GM’s investment in EV models. A-Forecasts predict a 23% increase in demand for manganese each year until 2030.
Significant mining developments in South Africa, Ghana, and Gabon may have led to an oversupply in the manganese market via earlier expansion in Chinese port stockpiles, “forcing downward pressure” on the price of manganese in 2019 and into mid-2020, according to a 3030 Roskill market report on the metal.
In mid-2020, a brief spike in the price of manganese followed COVID-19 lockdowns, which slowed the manganese production process. The mineral’s unique supply and demand dynamics mean that “investing in manganese could be a future-friendly mining idea,” notes Kepman.
“Manganese enhanced batteries are more robust, higher in density and much less toxic than cobalt. Manganese is currently more affordable than cobalt per ton, at less than a third of the price of cobalt on world markets. All this without the mining logistics and production issues associated with cobalt, making it an ethically, environmentally, and economically viable investment,” states Martin Kepman.
The choice of industry to move to manganese instead of cobalt for their batteries is an obvious one: manganese creates better performing, and more ethically sourced batteries at a fraction of the cost.
“Manganese X Corp expects a huge development in the manganese market because of its demonstrated value in clean energy applications, Mr. Kepman concludes. Moreover, we expect the increased proportions of manganese projected to be used for nickel-metal hydride (NiMH) and lithium-particle (Li-particle) batteries to be significant and will affect all future rechargeable batteries, EV and Hybrid electric vehicles and energy backup power storage industries.”
Web Resource
For more information on the supply and demand dynamics of cobalt and answers to essential questions for investors, read Mr. Kepman’s full discussion of the current manganese market.
About Manganese Energy Corp.
Manganese X Energy Corp. intends to provide a secure ethically sourced manganese supply by exploring and developing its manganese rich deposit near Woodstock New Brunswick, the Battery Hill Project. The Fraser Institute has recently called New Brunswick one of the best mining jurisdictions in Canada, a country known to be mining friendly.
Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC:QB:MNXXF) (FRANKFURT:9SC2) with its head office in Montreal QC, owns 100% of the Battery Hill property project (1,228 hectares) located in New Brunswick Canada. Battery Hill is strategically situated 12 kilometers from the US (Maine) border, near existing infrastructures (power, railways, and roads). It encompasses all or part of five manganese-iron zones, including Iron Ore Hill, Moody Hill, Sharpe Farm, Maple Hill and Wakefield. According to Brian Way’s (2012) master’s thesis on the Woodstock manganese occurrences, that includes Battery Hill, the area “hosts a series of banded iron formations that collectively constitute one of the largest manganese resources in North America, approximately 194,000,000 tons.”
Media contact:
Rene Perras
Digital PR Consultant for Manganese X Energy Corp
514-816-4446
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New Brunswick, Canada
ON BEHALF OF THE BOARD OF DIRECTORS
Martin Kepman
CEO and Director
martin@kepman.com
1-514-802-1814
Cautionary Note Regarding Forward-Looking Information
Neither 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 contains “forward-looking information” which may include statements with respect to the future exploration performance of Manganese X Energy Corp (the “Company”). This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this publication and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate, and the reader is cautioned not to place undue reliance on such forward-looking information. We seek safe harbor.
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