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Nevada Clean Magnesium Formally Secures JV With ScanMag

It's been a long time coming, but Nevada Clean Magnesium has finally completed its joint venture agreement with Norwegian industrial minerals company ScanMag. The companies renegotiated the terms of their agreement back in January, but the deal has now been formally closed.

MGX Minerals Acquires Magnesite Deposit in California

MGX Minerals (CSE:XMG) has largely been focused on California, but this week, the Canadian junior expanded its horizons. The company announced on Thursday that it had acquired the Needles magnesite deposit in California, and that it is now planning to build the first magnesium oxide (MgO) wallboard plant in the US.

What is Magnesite?

Although over 80 minerals contain magnesium, only six are used for magnesium production. One of those materials, magnesite, is used in modern manufacturing processes and can be found in items ranging from paper to animal feed.

Korab Resources Gains 50 Percent on Magnesite Offtake

The magnesium space is usually fairly quiet, but there was some news on the magnesite front from Australia on Wednesday. Korab Resources announced an offtake agreement for magnesite production from its Winchester mine over seven years, and the company's stock shot up 50 percent on the news.