Offers of Minor Metals in Europe (2017-08-18）

【SMM Titanium Flash】On October 12th, the government of Ondo State, Nigeria, signed an agreement worth $362 million with PyVee Limited to build a titanium processing plant in the Ilaje Local Government Area, implemented through a public-private partnership model. Positioned as the first fully integrated titanium value chain processing plant in West Africa, the project will be advanced in two phases: the first phase involves an investment of approximately $12 million to build a commercial pilot plant, which is expected to be operational about 21 months after signing; the second phase involves the construction of a full-scale titanium processing complex. The state government participates by exchanging land for equity, and the project is expected to generate an annual economic value of over 300 billion naira for Ondo State. With the implementation of the project, Nigeria's participation in the global titanium processing industry is expected to increase.

【SMM Titanium Flash】On October 13th, the European Commission granted the strategic project status of the key raw material bill for the processing link of the Verde Magnesium Industries project in Romania. Together with the previously approved mining link, this project has become the only one in Europe to obtain CRMA strategic status across the entire value chain of primary magnesium. Its phased production roadmap shows that the annual production target is set at 360 tons in 2028, increasing to 30,000 tons in 2031, and further expanding to 90,000 tons in 2036. With the establishment of strategic status across the entire chain, the construction of local primary magnesium supply capacity in Europe is expected to accelerate.

【SMM Magnesium Flash】On October 16th, Latrobe Magnesium announced its latest progress, stating that the installation progress of Phase 1B of its demonstration plant in Victoria has reached 95%, with 35% of the commissioning completed. The company remains committed to its goal of producing the first batch of magnesium metal with a purity exceeding 98% by the end of 2026. Simultaneously, the company is advancing its plan to build a 50,000-ton magnesium plant in South Carolina, USA, and has secured a total of 32,000 tons/year of non-binding intention to purchase. As of the end of September, the company held AUD 3.4 million in cash and is currently undergoing a fully underwritten share placement financing of AUD 3.4 million, with the deadline for share placement extended from October 19th to October 26th. As the commissioning of the demonstration line progresses, the industrialization verification process of its low-carbon magnesium extraction technology is expected to accelerate further.