Business
Latrobe Magnesium (ASX: LMG) CEO David Paterson joins Small Caps to discuss the company’s plans to construct a demonstration plant to produce magnesium metal from waste by-product of the Yallourn coal station in Victoria’s Latrobe Valley. The company aims to produce 3,000 tonnes of the metal in the first year before commencing work to expand its capacity to 40,000tpa. A feasibility study validating Latrobe’s proprietary hydromet-thermal reduction extraction process has been completed and construction is expected to start in the new year. The company recently raised $3 million through an oversubscribed share placement to accelerate design and engineering work on the initial plant. Latrobe hopes to benefit from the forecasted global shortage in magnesium metal after the world’s major supplier China has ordered 25 plants to close.Article:https://smallcaps.com.au/latrobe-magnesium-heading-into-production-world-faces-severe-metal-shortage/For more information:https://smallcaps.com.au/stocks/LMG/