Latrobe Magnesium Limited (ASX:LMG)
Latrobe Magnesium Limited (ASX:LMG) is developing a magnesium production plant in Victoria's Latrobe Valley using its world first patented extraction process.
LMG intends to extract and sell magnesium metal and cementitious material from industrial fly ash, which is currently a waste resource from Yallourn brown coal power generation.
LMG has completed a feasibility study validating its combined hydrometallurgical / thermal reduction process that extracts the metal. Construction has commenced on its initial 1,000 tonne per annum magnesium plant with production targeted to commence from Q1 2023.
A commercial plant will then be developed, with a capacity of 10,000 tonne per annum magnesium, shortly thereafter. Further plant capacity expansion will be considered once the 10,000 tonne per annum is operating successfully.
The plant will be in the heart of Victorias coal power generation precinct, providing immediate access to feedstock, infrastructure, and labour.LMG plans to sell the refined magnesium under long-term contracts to USA and Japanese customers.
Currently, Australia imports 100% of the 8,000 tonnes annually consumed. Magnesium has the best strength-to-weight ratio of all common structural metals and is increasingly used in the manufacture of car parts, laptop computers, mobile phones, and power tools.
The LMG project is at the forefront of environmental benefit by recycling power plant waste, avoiding landfill and is a low CO2 emitter.