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Latrobe Magnesium Limited (ASX:LMG)

ALERT: Price-sensitive ASX Announcement for LMG
Current share price for LMG : $0.011 -0.008 (-42.11%)+
Announcement
Release
30 Apr 2026 9:36AM
Price at Release
$0.019
Full Release
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Summary
Latrobe Magnesium Limited (LMG) presented their innovative approach to producing magnesium through a patented hydromet/thermal reduction process utilizing brown coal ash, positioning them as a leading Western source of this critical mineral. This process is environmentally sustainable, significantly reducing CO2 emissions compared to traditional methods. LMG aims to start magnesium metal production in the second half of calendar year 2026, with a 10,000 tpa commercial plant planned for Victoria, Australia. They have secured a US$2 million prepayment from Metal Exchange LLC, their U.S. distribution partner, and are supported by Australian and U.S. government initiatives to diversify critical mineral supplies away from China. The company has invested approximately A$96 million to date and projects an annual EBITDA of A$63 million from the commercial plant. LMG also plans an international expansion in Malaysia, leveraging ferro-nickel slag as feedstock.
Key Points
  • Latrobe Magnesium Limited (LMG) is developing a commercial plant in Victoria, Australia.
  • LMG's technology converts brown coal ash into magnesium, reducing CO2 emissions.
  • LMG has secured a US$2 million prepayment from Metal Exchange LLC.
  • The company is supported by Australian and U.S. critical mineral initiatives.
  • LMG plans to start magnesium metal production in the second half of 2026.
  • Projected commercial plant capacity is 10,000 tpa with an expected EBITDA of A$63 million.
  • Plans for an international plant in Malaysia using ferro-nickel slag.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.