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The latest update is out from Latrobe Magnesium Limited ( (AU:LMG) ).
Latrobe Magnesium Limited has received an extension on its Pilot Project Licence from the EPA Victoria, allowing operations at its Hazelwood North site to continue until February 2027. The company is set to begin operations at its Demonstration Plant in August 2025, aiming for steady-state production of magnesium oxide and byproducts. Additionally, LMG is finalizing the sale of surplus land to generate up to $5 million and is pursuing a $19.39 million counterclaim against Mincore for breach of contract. The company is also advancing its Stage 2 and Stage 3 plant projects, with feasibility studies and site evaluations underway, and has secured funding commitments to support its growth initiatives. LMG’s engagement with the US Department of Defense highlights its strategic focus on exporting magnesium to US customers, including the Pentagon.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited operates in the industrial minerals sector, focusing on the production of magnesium metal and its byproducts such as magnesium oxide, char, silica, agricultural lime, and iron oxide. The company is engaged in developing proprietary processes for magnesium production and is involved in various stages of plant development and feasibility studies to expand its production capabilities.
Average Trading Volume: 4,782,363
Technical Sentiment Signal: Sell
Current Market Cap: A$39.48M
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