"... Use of magnesium as an alloying element or as a base metal isn’t a completely new idea. In 1935 Reynolds Technology of Birmingham introduced Reynolds 531, a manganese–molybdenum-carbon steel alloy. It was considered the standard of excellence for several decades. ..."
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ATD. Looks closely. 'Magnesium' and 'Manganese' have different spellings....as these are different words...representing different elements ....which are different metals with very different properties.
Mag-nes-i-um
Man-gan-ese
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Eternal vigilance is the price of knowledge. - George Santayana
I have this fully calculated. Magnesium must be used for new bike frames, because all the manganese from older bikes using Reynolds 531 alloy is sequestered in manganese nodules deep in the oceans:
Dropping bikes into rivers, whence they swim (or roll) to the deep oceans, is occurring worldwide. Here's the photographic evidence of bikes not yet fully nodulised: