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Magnum Mining and Exploration Limited ( (AU:MGU) ) has shared an update.
Magnum Mining & Exploration Limited is responding to the new U.S. tariffs on steel and aluminum by reviewing its supply strategy to enhance local ore supply for the U.S. market. This involves exploring partnerships and technologies, such as the HIsmelt process, to strengthen supply chain resilience and optimize its position in the U.S. market. The company is also advancing its Buena Vista Iron Deposit, which has necessary permits for mining and processing, and is working on agreements to develop HIsmelt technology globally, indicating a proactive approach to navigating trade changes.
More about Magnum Mining and Exploration Limited
Magnum Mining & Exploration Limited operates in the mining industry, focusing on iron ore production and exploration. The company seeks to provide high-quality iron ore solutions, with a strong emphasis on maintaining competitive edges in shifting trade environments.
Average Trading Volume: 1,413,219
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$5.67M
See more insights into MGU stock on TipRanks’ Stock Analysis page.
