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Latrobe Magnesium Limited ( (AU:LMG) ) has issued an announcement.
Latrobe Magnesium has received a non-binding and conditional Letter of Support from Export Finance Australia, indicating potential participation in financing its planned 10,000 tonne-per-annum Stage 2 commercial magnesium plant in Victoria, alongside a previously announced non-binding Letter of Interest from the US Export-Import Bank for up to A$200 million in debt. The company plans to appoint Bechtel to complete a bankable feasibility study within nine months, is seeking A$200 million in debt and A$50 million in equity, and has already allocated 100% of the plant’s output under an offtake agreement for the US market, underscoring its role in diversifying Western supply of a critical mineral currently dominated by China and Russia and strengthening its strategic positioning in the US–Australia critical minerals partnership.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited is an Australian developer of magnesium metal projects, using a patented extraction process to produce magnesium and cementitious materials from industrial ash generated by brown coal power plants. The company is commissioning a demonstration plant in Victoria’s Latrobe Valley ahead of a 10,000 tonne-per-annum commercial magnesium plant targeted for completion in 2028, and is also advancing plans for a 100,000 tonne-per-annum “mega” plant in Sarawak, Malaysia, positioning itself as a low‑CO2, circular-economy supplier to automotive, aerospace, electronics and other industries reliant on this critical metal.
Average Trading Volume: 8,372,918
Technical Sentiment Signal: Sell
Current Market Cap: A$59.43M
See more insights into LMG stock on TipRanks’ Stock Analysis page.