Magnum Mining and Exploration Limited ( (AU:MGU) ) has shared an announcement.
Magnum Mining & Exploration Limited has entered into a cooperation agreement with the Wickers Group of Sweden to jointly develop a new technology combination aimed at producing pulp, bio-chemicals, and green pig iron. This collaboration will leverage Wickers’ expertise in pulp and paper plant technologies and Magnum’s HIsmelt furnace technology to create a ‘BioCombine’ plant. The initiative is expected to enhance operational synergies by utilizing biochar as a reductant in the HIsmelt furnace and recycling excess steam from the furnace to power the pulp plant. This strategic partnership aims to attract investors and industry partners, potentially positioning Magnum as a leader in sustainable industrial solutions in Europe and North America.
More about Magnum Mining and Exploration Limited
Magnum Mining & Exploration Limited operates in the mining and exploration industry, focusing on the development of technologies to produce green pig iron, pulp, and bio-chemicals. The company is engaged in creating sustainable solutions by integrating pulp and paper plant technologies with HIsmelt furnace operations.
Average Trading Volume: 904,125
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$4.86M
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