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Latrobe Magnesium Limited ( (AU:LMG) ) just unveiled an update.
Latrobe Magnesium Limited has received an extension for its Pilot Project Licence from the Environment Protection Authority Victoria, allowing operations at its Hazelwood North site to continue until February 2027. This extension is crucial for LMG to demonstrate the production of magnesium oxide and byproducts, which is a significant step toward commercial-scale operations. The company plans to commence operations in early August 2025, with the first production outputs following staff training. This development is expected to advance discussions for long-term offtake agreements, enhancing LMG’s market positioning.
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 to extract and sell magnesium metal and cementitious material from industrial ash. LMG plans to develop a Commercial Plant with a capacity of 10,000 tonnes per annum of magnesium metal by the end of 2027 and is also working on an International ‘Mega’ Plant in Malaysia. The company focuses on recycling power plant waste tailings and operates with a low CO2 footprint.
Average Trading Volume: 4,539,233
Technical Sentiment Signal: Sell
Current Market Cap: A$42.11M
See more data about LMG stock on TipRanks’ Stock Analysis page.