Manganese X receives US patent for purification technology

Manganese X Energy (TSXV: MN) said on Wednesday it has been granted a US patent for the proprietary purification technology it has developed for processing manganese sulphate.

The US patent expands the company’s global intellectual property portfolio, following its recent patent acceptance in South Africa. Applications for patents in Canada, Mexico and Australia have also been submitted for its technology, the company said.

“This achievement reinforces the strength of our technology and our commitment to building a secure and scalable domestic supply chain,” CEO Martin Kepman said, noting the importance of high-purity manganese sulphate in the rapidly growing lithium-ion battery market.

Manganese sulphate is a cathode material used in the production of lithium-ion batteries for electric vehicles and stationary energy storage systems.

Issuance of the US patent adds further value to the development of its flagship Battery Hill project in New Brunswick, the company said. The project, covering over 12.2 sq. km and five distinct zones, is considered to be one of the largest manganese carbonate deposits in North America. Based on a historical report cited by the company, it has a mineral resource of 194 million tonnes.

A pre-feasibility study is currently underway to evaluate multiple processing pathways to optimize both technical performance and economics, Manganese X said.

Shares of Manganese X surged over 9% to C$0.12 by midday, taking the Canadian junior’s market capitalization to C$25.8 million ($18.9 million).