North American Magnesium Industry Accelerates Layout, China's Export Prices Rise, Global Magnesium Market Awaits Post-Holiday Volume Surge [SMM Survey]

Western Magnesium Moves into New Las Vegas Plant, Accelerating Construction of Clean Magnesium Demonstration Line

LAS VEGAS, Nev. – Western Magnesium Corporation, an innovative enterprise dedicated to sustainable magnesium production, has officially moved into a new, advanced 44,000-square-foot facility in North Las Vegas, just a 20-minute drive from the Las Vegas Strip.

This plant will serve as the new site for the company's fully upgraded demonstration production line. Equipment assembly has now commenced, with the goal of completing construction and commencing operations within six months. Western Magnesium utilizes its self-developed continuous vacuum reduction process. Unlike the traditional, high-energy-consumption, batch-based Pidgeon process, its proprietary technology can directly produce primary magnesium with a purity of 99.8% from raw material in a single step, eliminating the need for subsequent refining while significantly reducing energy consumption and carbon emissions.

The company stated that the new plant will be used to validate the scalability and feasibility of this process and provide a technology demonstration platform for potential partners. Once the demonstration line is operational, it will lay the foundation for the further construction of a commercial-scale plant. North Las Vegas Mayor Pamela Goynes-Brown stated that this project will bring meaningful career opportunities for local residents and demonstrates the vitality of the city's business community.

Inomin Mines Advances Large-Scale Magnesium Project in BC, Drilling Confirms Wide, Near-Surface Mineralization

Inomin Mines Inc. is accelerating the advancement of its Beaver–Lynx magnesium-nickel-cobalt-platinum group metals project located in south-central British Columbia. The flagship Beaver target covers approximately 11,000 hectares. Drilling has confirmed wide, near-surface mineralization, with the first drill hole intersecting 252.1 meters of mineralization, and subsequent drilling confirming continuous distribution of the ore body, including a 179.2-meter mineralized interval and a plus-100-meter high-grade section. The ore body is composed of an approximately 4-by-8-kilometer ultramafic rock mass, characterized by large tonnage. The project is adjacent to the Gibraltar mine, Canada's second-largest open-pit copper mine, and benefits from well-established infrastructure including roads, railways, and hydropower.

The magnesium grade at the Beaver target remains stable above 20%. Metallurgical testing indicates a magnesium leach recovery rate of nearly 99%, providing key technical support for potential development. The project also contains associated metals such as nickel, cobalt, platinum, and palladium, further enhancing its overall economic value. The company holds a 100% interest in the project and has signed a joint venture agreement with Sumitomo Metal Mining; Sumitomo can earn up to an 80% interest by funding expenditures. The 17,300-hectare Lynx target area has not yet been drilled, with airborne magnetic surveys outlining multiple strong targets, indicating potential for regional-scale magnesium resource expansion.

Post-Chinese New Year Magnesium Ingot Export Prices Exceed $2,400; Overseas Wait-and-See Sentiment Prevails as Market Awaits Peak Ordering and Peak Demand

Following the Chinese New Year holiday, China's magnesium ingot export market is gradually recovering, but overall transaction activity remains cautious. As of February 26, the FOB quotation at Tianjin Port was raised to $2,400-2,450/mt, showing an increase compared to pre-holiday levels. Most of the foreign trade orders accumulated before the holiday were scheduled for March shipment. After the holiday, traders concentrated on stockpiling and shipping, boosting short-term market activity. During the Chinese New Year holiday, inquiries in the European market increased. However, due to fluctuations in ocean freight rates, CIF Rotterdam quotations remained high, leading downstream buyers to adopt a wait-and-see approach. According to trader feedback, although inquiries rose after the holiday, overseas buyers remained cautious in placing actual orders due to high prices, resulting in relatively quiet market transactions.

Industry insiders expect that with the traditional procurement season approaching in March, a peak in new overseas orders may occur from late February to early March. If ocean freight rates stabilize by then, coupled with support from high domestic magnesium prices, overseas orders are expected to be gradually released. The current market is in a post-holiday adjustment phase, with intensified tug-of-war between buyers and sellers. Future trends will depend on the pace of inventory digestion in Europe and changes in ocean freight rates.