Aug 24, 2016
AMSTERDAM, Netherlands, Aug. 24, 2016 (GLOBE NEWSWIRE) — (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that AMG Mineração has acquired the remaining 49.9% interest in their unincorporated feldspar partnership from Colorminas, Brazil. The partnership between AMG Mineração and Colorminas was established in 2003 with the objective of producing and commercializing feldspar from tailings generated from AMG Mineração’s tantalum operations.
“The acquisition is in line with AMG’s strategy to streamline its organizational structure and enables AMG Lithium to eventually expand production, subject to the completion of a feasibility study and management approval, from the previously announced initial annual production capacity of 90,000 tons of lithium concentrate up to 140,000 tons of lithium concentrate,” said Mr. Fabiano Costa, President of AMG Mineração.
AMG Mineração’s Mibra mine produces 300,000 pounds of high purity tantalum oxides (Ta2O5) in concentrates annually primarily for use in capacitors for the electronics industry and produces 180,000 tons of feldspar for the local ceramics and glass industry.
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs and produces vacuum furnace equipment and systems used to produce and upgrade specialty metals and alloys for the transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France,Czech Republic, United States, China, Mexico, Brazil and Sri Lanka, and has sales and customer service offices in Russia and Japan(www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V.
+1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels@amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are “forward looking”. Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.
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Jul 20, 2016
Key Highlights
- AMG’s Supervisory Board approves project to construct a lithium concentrate (spodumene) plant at the Mibra mine inBrazil, with an initial annual production of 90,000 tons, expandable to 140,000 tons
- Production is expected to commence in the first quarter of 2018 and capital investment is estimated at approximately $50 million
- AMG expects to be the low cost producer of lithium concentrate globally
- Pre-feasibility study for the construction of a lithium chemical plant, with targeted annual production of between 14,000 tons and 20,000 tons lithium carbonate equivalent (LCE), will be completed in the fourth quarter 2016
AMSTERDAM, Netherlands, July 20, 2016 (GLOBE NEWSWIRE) — (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that the Supervisory Board of AMG has approved the construction of a lithium concentrate (spodumene) plant at the Mibra mine in Brazil.
“Following a number of years spent on preparatory activities, including the operation of a pilot plant at AMG’s Mibra mine in Brazil, we are delighted to announce our entrance into the lithium market,” said Dr. Heinz Schimmelbusch, CEO and Chairman of the Management Board. “The recovery of lithium-bearing minerals from existing tailings will enable AMG to be a cost leader in the lithium market, creating significant value for our shareholders.”
AMG’s new business segment, AMG Lithium, will commence operations in the first quarter of 2018, with an initial annual production capacity of 90,000 tons of lithium concentrate, expandable to 140,000 tons. Total capital investment is estimated at approximately $50 million and will be incurred primarily in 2016 and 2017.
The recovery of lithium-bearing minerals from existing tailings, a by-product of AMG’s tantalum operations in Brazil, is expected to result in a cost-leading production process.
This announcement follows the press release distributed on March 10, 2016, in which AMG announced that Outotec completed an affirmative prefeasibility study for the recovery of lithium-bearing mineral Spodumene.
In addition, AMG has completed an affirmative scoping study for the downstream conversion of lithium concentrate into lithium hydroxide and/or lithium carbonate. As part of this analysis, AMG performed a global site location study to determine the best location for a new lithium chemical plant.
Following the successful completion of the scoping and location studies, AMG has commissioned Hatch to complete a pre-feasibility study for the construction of a lithium chemical plant, with targeted annual production of between 14,000 tons and 20,000 tons lithium carbonate equivalent (LCE).
The previously published Technical Report on Mineral Resources states that AMG’s Mibra mine has 14.7 million tons of measured and indicated resources, including tantalum, niobium, tin and lithium. AMG estimates that the current life of the mineral resource is approximately 18 years, based upon current production levels.
Chemical grade lithium is primarily used in lithium-ion batteries and in the fine-chemical industry.
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs and produces vacuum furnace equipment and systems used to produce and upgrade specialty metals and alloys for the transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France,Czech Republic, United States, China, Mexico, Brazil and Sri Lanka, and has sales and customer service offices in Russia and Japan(www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V.
+1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels@amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are “forward looking”. Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.
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Mar 10, 2016
AMSTERDAM, Netherlands, March 10, 2016 (GLOBE NEWSWIRE) — (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that Outotec has completed an affirmative prefeasibility study for the recovery of Spodumene, a lithium-bearing mineral, from its Volta Grande mine tailings resource in Brazil.
As previously announced, AMG has been operating a Spodumene pilot plant at the Volta Grande mine, recovering lithium-bearing material from existing tailings.
Following completion of the prefeasibility study, AMG has commissioned Outotec to perform basic engineering for a Spodumene operation, with targeted annual production of 90,000 tons. AMG is also working with Outotec and Hatch, separately, to conduct scoping studies to determine the optimum chemical process route to convert spodumene concentrate into either lithium hydroxide monohydrate or lithium carbonate.
The Technical Report on Mineral Resources, published by AMG in April 2013, states that AMG’s Volte Grande mine has 19.3 million tons of measured, indicated and inferred resources, which includes tantalum, niobium, tin and lithium. The mineral resource estimates were prepared in accordance with the classification standards adopted by the Canadian Securities Administrators’ National Instrument 43-101 Standards of Disclosure for Mineral Projects.
AMG will provide further updates on the status of the project as appropriate.
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Critical Materials produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs and produces vacuum furnace equipment and systems used to produce and upgrade specialty metals and alloys for the transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France,Czech Republic, United States, China, Mexico, Brazil and Sri Lanka, and has sales and customer service offices in Russia and Japan(www.amg-nv.com).
About Outotec
Outotec designs and delivers tailored solutions and life cycle services for minerals and metals, water, energy, and chemical processing.
For further information, please contact:
AMG Advanced Metallurgical Group N.V.
+1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels@amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are “forward looking”. Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.
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