Latrobe Magnesium (LMG)

Shares / Stock Code

LMG

Stock Exchange / Sharemarket

Australian Securities Exchange

Latrobe Magnesium (LMG) specialises in producing magnesium metal from fly ash. It is strategically located in Victoria's Latrobe Valley where, currently, there are 12M tonnes in inventory of fly ash. After conducting studies, the fly ash has been analysed to contain a high level of magnesium, and the company hopes to extract this material and use it.

LMG was incorporated in Western Australia as Money Mining NL, a gold exploration company in April 1986. It then proceeded to be listed on the Australian stockmarket (ASX) on 18 December 1986. In November 2001, LMG entered into an agreement with Magnesium Investments Pty Ltd to fund a pre-feasibility study of the Latrobe Magnesium Project. By April 2002, it acquired 100% interest in the Latrobe Magnesium Project.

LMG's intention is to develop and operate a world-class integrated magnesium metal facility exhibiting environmental sustainability in a socially acceptable manner.

Through producing magnesium, LMG hopes to sell to the retail, wholesale and international markets. It is said that magnesium is being increasingly used in the manufacturing of cars, as it is lightweight and would therefore reduce the vehicle's weight. Its major competitors would be other mining companies producing metals for use in cars, ingots and rods.

The Company, with the assistance of Ecoengineers Pty Ltd is investigating a number of hydromet processes. Its exploration projects include Bangemall exploration area and northern territory uranium projects. The Company's subsidiaries include Money Management WA Pty Ltd, Gold Mines of WA Pty Ltd and Magnesium Investments Pty Ltd.

Latrobe Magnesium (LMG) Products and Services

  • Specialises in producing magnesium metal from fly ash

Latrobe Magnesium (LMG) Locations and Subsidiaries

Latrobe Magnesium Head Office
Suite 601, Level 6, 20 Barrack Street,
SYDNEY, NSW, AUSTRALIA, 2000
Phone: 02 9279 2033
Fax: 02 9262 5666

Latrobe Magnesium (LMG) Share Price

Submitted by ASX Listed Company on 11 May, 2010 - 01:17

Download our FREE App


Signup for Free
Don't miss out on your free share trading articles.


Free Risk Money Management Calculator for those who sign up!