Latrobe Magnesium Limited ( (AU:LMG) ) just unveiled an announcement.
Latrobe Magnesium Limited has secured a 250 MW hydropower allocation for its Sarawak project, marking a significant milestone as power demand in the region exceeds supply, enabling the company to advance discussions with potential joint venture partners. Additionally, LMG has received funding from the Australian Federal Government’s Southeast Asia Investment Deal Team’s Project Development Support Program, highlighting the competitiveness of the initiative and supporting the establishment of its Stage 3 Project in Sarawak, Malaysia.
More about Latrobe Magnesium Limited
Latrobe Magnesium Limited (LMG) is engaged in developing a magnesium metal Demonstration Plant in Victoria’s Latrobe Valley, utilizing a patented extraction process to convert industrial fly ash from brown coal power generation into magnesium metal and cementitious material. The company aims to produce 10,000 tonnes per annum of magnesium metal by 2026, targeting long-term contracts with US-based distributors. LMG focuses on recycling waste, promoting a circular economy, and maintaining low CO2 emissions.
YTD Price Performance: -35.00%
Average Trading Volume: 1,517,880
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$30.53M
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