Latrobe Magnesium Plans $5M Land Acquisition in South Carolina for 50,000-Ton Magnesium Plant

Published: Oct 22, 2026 13:54 (GMT+8)

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【SMM Magnesium Flash】On October 22, Latrobe Magnesium announced the signing of a non-binding letter of intent with the Colleton County Economic Development Corporation in South Carolina. The intention is to acquire approximately 250 acres of heavy industrial land in the Colleton Large Industrial Base for $5 million, to construct its planned primary magnesium plant with an annual output of 50,000 tons. Additionally, the company retains the option to purchase adjacent land to support a second-phase expansion to 100,000 tons. The site is located near railways, Interstate 95, and the Port of Charleston, with supporting power, gas, and water facilities. The company will pay a deposit of $500,000 within 10 working days, which is fully refundable during the 120-day due diligence period. The goal is to sign a formal purchase contract within 60 working days. The remaining funds for the project depend on the $30 million financing that is still under negotiation.

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