Element One accelerates magnesium extraction from olivine and natural hydrogen project development [SMM survey]

Element One (EONE), a Canadian company listed on the CSE, disclosed its technology advancement plan for the next six months on August 11, under which it will leverage the Twin Sisters olivine ore source in Washington, US, to build a magnesium demonstration plant. The first phase will have a raw material processing capacity of 50,000 mt/year, which can be expanded to 100,000 mt/year in the long term. The company has signed a memorandum of understanding with Revora Materials to use its IonMet electrochemical extraction process for magnesium pilot tests and to verify core indicators such as metal recovery rate, energy consumption, and purity, with the goal of producing magnesium compounds and magnesium metal.

The company is also building a presence in natural hydrogen mineral deposits in British Columbia and Alaska, holds Columbia University's self-developed subsurface hydrogen stimulation technology, and plans to conduct geological surveys and field pilot assessments. While advancing both magnesium and hydrogen initiatives, the company has launched global investor outreach and is preparing for an OTCQB listing in the US to broaden North American trading channels.

At the industry level, both the US and Canada have designated magnesium as a critical mineral. North American domestic supply is highly dependent on imports. The global magnesium market size was $5.6 billion in 2025 and is expected to grow to $9.52 billion by 2035; the extraction cost of natural hydrogen from geological sources is only one-tenth that of traditional hydrogen production processes, offering low-cost, low-carbon energy advantages. The company plans to simultaneously engage with government subsidy programs and downstream end-user producers to advance project implementation and validation.