Latrobe Magnesium Ltd (ASX:LMG) has met crucial milestones for its 1,000-tonne per annum (tpa) magnesium demonstration plant in Hazelwood North, Victoria, setting the stage for the first magnesium production by March 2024.
Project activities remain on budget and all equipment packages are fully awarded, with a total of $17.5 million committed to over 35 suppliers around the world.
Looking ahead, the construction completion date is now the end of December 2023 with stage 3 commissioning targeted to kick off in January 2024.
Key highlights
To date, some $30 million has been spent on the demonstration plant.
All equipment was delivered before June 30 and were tested and dry commissioned.
Contracts for electrical and instrumentation labour have been granted to a local contractor.
Meanwhile, structural, mechanical, and piping contracts are expected to be awarded later this month.
Moving forward
The project aims for construction completion by the end of the fourth quarter of 2023 and anticipates the first magnesium production by March 2024.
The developments underline the project's steady progress and adherence to safety and financial parameters, positioning Latrobe's demonstration plant as a notable venture in the sector.