Australia's Latrobe Magnesium said last week that a concept study shows that its German magnesium extraction project is "economically viable and worthy of further development."
Car sales in Europe are finally turning around, and that could spur demand for magnesium used in automobile manufacturing.
The joint venture between Nevada Clean Magnesium and Norway's ScanMag AS, aims to produce magnesium for the North American and European industrial markets.
New research published recently shows that magnesium, whose health benefits are already well known, is proving useful in some unexpected applications.
Nevada Clean Magnesium, Inc. (TSXV:NVM,FWB:M1V) has revised the original joint venture terms of an agreement with ScanMag AS of Norway from October 15 2013. The renegotiated terms include a total contribution of US$5 million by ScanMag to Nevada Clean Magnesium and an advance of US$150,000 for Nevada Clean Magnesium upon signing the joint venture agreement. The boars of directors of both companies have approved the new terms, and NCM expects final execution of the agreement to occur in May.
Latrobe Magnesium Ltd. (ASX:LMG) has produced a large sample of beneficiated fly ash for full-scale commercial smelter processing in China.
Nevada Clean Magnesium Inc. (TSXV:NVM) announced that last week's meetings with Norway's ScanMag AS were positive, also commenting that the companies are "still proceeding towards the proposed relationship of the parties."
West High Yield Resources Ltd. (TSXV:WHY) reported that a Project Review (Gap Analysis) Report has been completed by SRK Consulting (U.S.), Inc. of Lakewood, Colorado and filed on SEDAR and the Company's website www.whyresources.com.
General Motors announced today that its GM China Advanced Technical Center in Shanghai conducted the first trial run of its new Vertical Squeeze Casting machine. This machine is the first of its kind in the world, and will be used to develop next-generation magnesium castings.
Platts reported that this week, spot export offers for Chinese magnesium ingot on a FOB basis fell on the back of thin trade and weak overseas buying interest.
Platts reported that according to China's General Administration of Customs, in January, the country's exports of unwrought magnesium with a minimum magnesium content of 99.8 percent increased 59.2 percent from the previous year.
Platts reported that on the eve of the Lunar New Year, spot trade in Chinese magnesium ingot export came to a halt as market participants left work for the holiday.