New Research Touts Health Benefits of Magnesium

New research published recently shows that magnesium, whose health benefits are already well known, is proving useful in some unexpected applications.

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Company News

Nevada Clean Magnesium Renegotiates Joint Venture Terms with Scanmag AS

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.

Nevada Clean Magnesium, ScanMag Engage in Positive Round of Talks

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."

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Market News

General Motors Trials New Magnesium Alloy VSC Machine

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.

Chinese Magnesium Spot Export Offers Trending Down

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.

Chinese Unwrought Magnesium Exports See January Rise of 59.2 Percent

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.

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