Latrobe Magnesium Signs MOU For Magnesium Offtake

Latrobe Magnesium (ASX:LMG) has signed a memorandum of understanding (MOU) with Advanced Material Corporation of Japan (AMCJ) for the purchase of up to 4,000 tonnes of magnesium per year from Latrobe’s planned production facility in Victoria, Australia. AMCJ is the largest titanium and magnesium trading house in Tokyo.
As quoted in the press release:

AMCJ has also agreed to consider providing LMG with a deposit against its sales contract to assist with costs of acquiring, installing and commissioning LMG’s expanded plant. AMCJ will also assist LMG to obtain financial assistance from the Japanese government owned banks for the funding of its initial and expanded plants.

Click here for the full press release.