Magnum Mining Advances Green Iron Project and Expands

Magnum Mining and Exploration Limited (AU:MGU) has released an update.

Magnum Mining & Exploration Ltd announced a joint technical study with Midmetal for producing green pig iron in Saudi Arabia, deeming the project economically viable. Additionally, Magnum has acquired a 50% stake in Midmetal and is seeking to list the company in the USA. In Nevada, the company’s Buena Vista Project is set to mine high-grade magnetite iron ore, catering to the growing demand from steelmakers looking to reduce carbon emissions.

For further insights into AU:MGU stock, check out TipRanks’ Stock Analysis page.