https://www.miningweekly.com
Engineering|Exploration|Mining|PROJECT|Steel|Products
Engineering|Exploration|Mining|PROJECT|Steel|Products
engineering|exploration|mining|project|steel|products

Mitsubushi signs up for Magnum's green iron

10th May 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Magnum Mining & Exploration has inked a non-binding memorandum of understanding (MoU) with Mitsubishi Corporation covering all of the product to be produced at Magnum’s Buena Vista green iron project, in Nevada.

The MU covers all products from the project including direct shipping ore, iron concentrate, HIsmelt-produced pig iron and slag, all steel plant wastes, and excess biochar.

Magnum told shareholders on Wednesday that the MoU formed the basis for good-faith discussions to progress to a definitive agreement, and would remain in force for three years, as well as any mutually agreed upon extensions.

“This MoU gives the Buena Vista green iron project a sound basis for moving forward to a feasibility study,” said Magnum CEO Neil Goodman.

“The Ferrous Raw Materials Division of Mitsubishi is an internationally recognised and respected commodity trading team. Magnum welcomes this important strategic alliance and the surety it can bring to the project’s development.”

Meanwhile, Magnum has entered into an agreement with Shandong Province Metallurgical Engineering (SDM) to perform the feasibility study into a HIsmelt plant at Buena Vista. The study is expected to be completed within three months.

“This agreement for the feasibility study will advance the Buena Vista project’s development. SDM is one of the most experienced HIsmelt engineering companies in the world having worked on several plants in Australia, China, South East Asia. I would like to thank the entire board and team for assisting with securing this agreement with SDM,” said Goodman.

Edited by Creamer Media Reporter

Comments

Projects

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.17 0.202s - 103pq - 2rq
Subscribe Now