LMG MoU with RWE Power ..for a German magnesium plant = Boom

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    LMG MoU with RWE Power for a German magnesium plant
    29 June 2016, Sydney Australia: Latrobe Magnesium Limited (ASX:LMG) has signed
    a MoU with RWE Power AG to continue to develop a magnesium plant capable of
    producing approximately 30,000 tonnes per annum of magnesium from brown coal fly
    ash from its Hambach mine near Cologne, Germany.
    The project involves four stages of development, being:
     Conduct process test work on the RWE fly ash
     Completion of a feasibility study
     Completion of engineering, procurement and permitting
     Construction and commissioning
    In August 2013, LMG conducted successful test work on the German RWE power plant
    fly ash. As a result of this test work the Company proceeded to a concept study, the
    results of which were announced in March 2014. Both companies are now moving to
    develop the project further and have agreed to carry out the work detailed above. Each
    stage is conditional on the successful completion of the preceding stage.
    Europe imports in excess of 150,000 tonnes of magnesium per annum. There is
    currently no producer in Europe and magnesium metal has been listed as the fourth
    most critical raw material in the EU list of 14 metals.
    RWE Power AG and LMG have identified the brown coal fly ash from RWE’s Hambach
    mine as being the most suitable to commercially extract magnesium. RWE Power
    mines produce approximately 100 million wet tonnes of brown coal per annum (from
    which approximately 35 to 40 million tonnes per annum are produced from its Hambach
    mine) compared to 65 million tonnes per annum in the three Latrobe Valley mines.
    RWE Power AG is part of the RWE Generation SE. Since 1 January 2013, all
    generation in the RWE Group has been steered by RWE Generation SE, enabling the
    pooling of the generation and engineering expertise of RWE Power in Germany, RWE
    Essent in the Netherlands, and RWE Generation UK in the UK. RWE has some 14,000
    employees in its generation business and more than 40 GW of power generation
    capacity.
    CEO David Paterson said, “This project provides LMG with another growth path: in
    addition to the project situated in the Latrobe Valley, a significant magnesium
    development project in environmentally-conscious Germany will increase international
    acceptance of the LMG patented hydromet process for brown coal fly ash.
    David Paterson
    CEO
    Latrobe Magnesium Limited 29 June 2016
    2
    About Latrobe Magnesium
    Latrobe Magnesium is developing a magnesium production plant in Victoria's Latrobe Valley using its
    world-first patented extraction process. LMG intends to extract and sell magnesium metal from industrial
    fly ash, which is currently a waste stream from brown coal power generation.
    LMG recently completed a pre-feasibility study validating its combined hydromet / thermal reduction
    process that extracts the metal. Production from the initial 5,000 tonnes per annum magnesium plant is
    due to start late 2017. The plant will be in the heart of Victoria’s coal power generation precinct, providing
    immediate access to feedstock.
    LMG plans to sell the refined magnesium under long-term contracts to Australian and American users.
    Currently, Australia imports 100% of the 9,000 tonnes annually consumed.
    Magnesium has the best strength-to-weight ratio of all common structural metals and is increasingly used
    in the manufacture of car parts, laptop computers, mobile phones and power tools.
    The LMG project is at the forefront of environmental benefit – by recycling power plant waste, avoiding
    landfill and as a low CO2 emitter.

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    Europe imports in excess of 150,000 tonnes of magnesium per annum.
    There is currently no producer in Europe and magnesium metal has been listed as the fourth
    most critical raw material in the EU list of 14 metals.

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    Posts

    LMG 3.7c up ..she goes ..again.. backed by Good Volume ..= Bullish

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  4. 6.7k
    Posts

    LMG closed at 3.5c ..on 4.5m Vol ..today

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