Latrobe Magnesium Receives $2 Million Prepayment from US Partner, Accelerating First Magnesium Metal Production
Latrobe Magnesium, an Australian company, recently received a $2 million prepayment from its US distribution partner Metal Exchange to support the installation and commissioning of pyrometallurgy equipment at its Latrobe Valley demonstration plant in Victoria. The funds will be recovered through a profit-sharing arrangement on future magnesium sales, with the company maintaining positive cash flow during this period. Both parties have established a pricing framework incorporating a floor price mechanism to provide downside protection. All production from Latrobe Magnesium's Phase 1 (1,000 mt per year) and Phase 2 (10,000 mt per year) has been allocated to the US market. Currently, there is no primary magnesium production in the US, with approximately 90% of global supply coming from China. The company positions itself as an alternative source within the Western aluminum supply chain, and Australian-produced magnesium is not subject to US import tariffs. The project uses fly ash from brown coal power generation as its raw material, with the first magnesium metal delivery expected in H2 2026.
Canada's Westland Resources Signs Long-Term Magnesium Ore Sales Agreement, Record Ridge Project Takes Key Step Toward Commercialization
Westland Resources recently signed a definitive forward sales agreement with Galaxy Trade and Technology, a US-based international magnesium supply enterprise, to sell magnesium-rich serpentinite ore produced from the Record Ridge project in British Columbia. Under the agreement, Galaxy will pay a $5 million deposit for the initial ore delivery, with an initial term of two years extendable to nine years. The ore price for the first two years is set at $500 per mt, with operational monthly average deliveries of 6,600 to 7,700 mt and estimated annual revenue exceeding $30 million. The project received its BC Mines Act permit in October 2025 and is about to enter the construction phase. The Record Ridge deposit contains approximately 10.6 million mt of magnesium, making it one of the world's largest and highest-grade magnesium deposits. Located near the city of Rossland and close to the US border, Westland Resources holds 100% of the mining rights. Magnesium is classified as a critical mineral by multiple countries and is widely used in aerospace, automotive lightweighting, national defense, and advanced manufacturing. This agreement has laid the market foundation for the project's commercialization.
MG Semi-Solid-State Battery Approaching Mass Production, Magnesium Materials May Serve as Key Lightweighting Enabler
MG plans to launch a mass-produced car model equipped with its "SolidCore" semi-solid-state battery in the European market by the end of 2026, with the MG4 EV Urban as the debut model. MG claims to be the world's first automaker to achieve mass production of semi-solid-state batteries. The battery features a 95% solid electrolyte structure, maintaining over 90% performance at -20°C, with a 15% improvement in charging speed, a 20% increase in power output, and no thermal runaway under extreme tests such as nail penetration.
Although not explicitly mentioned in the announcement, the mass production rollout of semi-solid-state batteries will impose higher requirements on upstream materials. As the lightest structural metal, magnesium has potential application value in battery casings, lightweight structural components, and anode material alternatives. As battery energy density and vehicle lightweighting demands continue to rise, the penetration rate of magnesium alloys in next-generation power batteries and EV platforms is expected to gradually increase. MG's commercialization of semi-solid-state batteries has opened new market opportunities for magnesium materials in the high-end NEV sector.
