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Latrobe Magnesium Limited ( (AU:LMG) ) has provided an announcement.
Latrobe Magnesium Limited has announced the operational start-up of its Demonstration Plant in Hazelwood North, Australia, following the reissuance of its Pilot Project Licence by the Environment Protection Authority Victoria. Despite recent weather-related delays in ash supply, the company is on track to commence magnesium oxide production, with steady-state operations expected soon. This development underscores LMG’s commitment to transparency and progress in its innovative magnesium extraction process, which has implications for the company’s market positioning and stakeholder interests.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited (LMG) is developing a magnesium metal Demonstration Plant in Victoria’s Latrobe Valley using a patented extraction process. The company aims to extract and sell magnesium metal and cementitious material from industrial ash, a waste resource from brown coal power generation. LMG plans to develop a Commercial Plant with a capacity of 10,000 tonnes per annum by 2027 and an International ‘Mega’ Plant in Malaysia producing 100,000 tonnes per annum. The company’s projects focus on recycling waste, promoting a circular economy, and maintaining low CO2 emissions.
Average Trading Volume: 4,733,311
Technical Sentiment Signal: Sell
Current Market Cap: A$65.86M
For a thorough assessment of LMG stock, go to TipRanks’ Stock Analysis page.