“Western Magnesium Corporation (CVE:WMG) (OTCMKTS:MLYF) says it is focused on becoming the world’s low-cost producer of eco-friendly and high-quality magnesium – a strategic metal.”
“It’s tempting to think of magnesium as a less-famous cousin to the world’s premier structural light metal – aluminium. After all, the world’s entire primary magnesium supply could be produced in one decent-sized aluminium smelter, around 1 million tonnes. Compare this with the 65 million tonnes of primary aluminium produced globally each year.”
“Total magnesium imports for consumption in the second
quarter of 2020 were 9,520 metric tons, 50% less than imports
in the first quarter of 2020, 35% less than those in the second
quarter of 2019, and 27% less than those in the second quarter
of 2018.”
“While mining is best known for supplying the world with precious and base metals, technology metals – such as lithium, cobalt and transition metals
– are needed for advanced applications, such as electric vehicle batteries, superalloys and within consumer electronics.”
“Total magnesium imports for consumption in the first quarter of 2020 were 22% more than imports in the fourth quarter of 2019, 37% more than those in the first quarter of 2019, and 87% more than those in the first quarter of 2018. ”
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“The COVID-19 pandemic has had a devastating effect on many personal lives and on the global economy. The mining sector is far from immune to this disruption. But despite the economic dislocation underway, prices in several metals markets have actually gone up year-to-date and mining equities have outperformed many other sectors. This is in notable contrast to previous cycles, where mining equities and metals prices have tended to be more leveraged to downturns. This White Paper provides some cross-cutting perspectives on the reasons for this using a comparison of changes this year with those seen during the 2008-9 Global Financial Crisis. It then discusses some potential longer term implications of the current crisis for the metals and mining sector. ”
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“As materials science continues its inexorable push forward, a closer exam- ination of the metals and minerals which underpin scientific breakthroughs seems prudent. While there is any number to choose from, this report focus- es on magnesium, commonly referred to as the “lightest useful metal” which is 75% lighter than steel and 33% lighter than aluminum. “
“Western Magnesium Corporation (formerly Nevada Clean Magnesium), headquartered in Las Vegas, Nevada, has started the buildout of its first commercialized pilot plant, with several industrial sites in the U.S. under consideration. The company plans to use a proprietary technology for the production of low-cost, green magnesium metal using dolomite from its Tami-Mosi deposit in Ely, Nevada. This brings Western Magnesium closer to its goal of becoming a significant player in the supply of magnesium metal and its alloys in the U.S.”