TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Latrobe Magnesium Limited ( (AU:LMG) ) has issued an announcement.
Latrobe Magnesium Limited (LMG) has received a Letter of Interest from the U.S. Export Import Bank (EXIM) for potential financing of up to A$200 million for its Stage 2 Commercial Magnesium Plant. This support aligns with U.S. goals to enhance supply chain resilience and secure critical minerals. LMG’s plant, set to produce 10,000 tonnes of magnesium annually, will cater entirely to the U.S. market, addressing the lack of local magnesium production. The company is also raising funds for its demonstration plant and planning a Bankable Feasibility Study with Bechtel. The project’s success could strengthen LMG’s position in the global magnesium market, particularly given the current dominance of Chinese and Russian production.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited (LMG) is an Australian company developing a magnesium metal Demonstration Plant in Victoria’s Latrobe Valley. Utilizing a patented extraction process, LMG aims to extract magnesium metal and cementitious material from industrial ash, a byproduct of brown coal power generation. The company plans to produce 10,000 tonnes per annum of magnesium metal at its Commercial Plant, with a future International ‘Mega’ Plant in Malaysia targeting 100,000 tonnes annually. LMG’s projects emphasize ESG best practices, focusing on recycling waste, promoting a circular economy, and minimizing CO2 emissions.
Average Trading Volume: 3,669,337
Technical Sentiment Signal: Sell
Current Market Cap: A$70.25M
For an in-depth examination of LMG stock, go to TipRanks’ Overview page.