Latrobe Magnesium
Latrobe Magnesium (ASX:LMG) is a publicly listed Australian company that uses a patented hydrometallurgical and thermal reduction process to extract magnesium metal from brown coal fly ash and ferro-nickel slag waste, producing near-zero-waste output. It serves automotive, defense, and industrial customers primarily in the United States under long-term offtake agreements.
- Company typePublic
- Founded2000
- HeadquartersSydney, Australia
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Latrobe Magnesium does
Latrobe Magnesium Limited (ASX:LMG) is a publicly listed Australian critical minerals company that has developed a world-first, patented hydrometallurgical extraction and thermal reduction process to produce magnesium metal from industrial waste feedstocks — specifically brown coal fly ash and ferro-nickel slag. The company operates a staged project pathway anchored by a 1,000 tpa Stage 1 Demonstration Plant at Hazelwood North in Victoria's Latrobe Valley, which commenced magnesium oxide production in September 2025. A 10,000 tpa Stage 2 Commercial Plant is targeted for late 2027 in the Latrobe Valley, and a 100,000 tpa Stage 3 International Mega Plant is planned for Sarawak, Malaysia, using ferro-nickel slag feedstock secured under a 20-year binding MoU with Société Le Nickel. The technology achieves approximately 53% lower CO2 emissions than traditional (predominantly Chinese) magnesium production and converts nearly 100% of feedstock into valuable products with zero waste streams.
The proprietary process dissolves magnesium from fly ash via acid leaching, recovers iron as iron oxide and calcium as calcium carbonate, converts the magnesium solution to magnesium oxide, and then uses thermal reduction with CSIRO-co-developed vertical retort technology to produce magnesium metal with up to 20% lower energy consumption than industry norms. By-products include Supplementary Cementitious Material (SCM), silica, iron oxide (hematite), calcium carbonate (agricultural lime), and char.
The business model is built on long-term offtake contracts for magnesium metal sales primarily to US customers, with 100% of Stage 2 output pre-sold and Metal Exchange Corporation serving as the exclusive US distribution partner. Target customer segments span automotive (lightweighting for EVs — Volkswagen Group has engaged), defense and aerospace (US supply chain diversification), electronics, and construction (via SCM by-product). Strategic financial backing includes a US$122 million Letter of Interest from the US Export-Import Bank (EXIM), a Letter of Support from Export Finance Australia, Société Générale as mandated lead arranger for Stage 2 financing, and an A$12.5 million Australian R&D tax rebate. The company is currently pre-commercial with demonstration-scale operations and is dependent on continued capital raises to fund the Stage 2 build.
Latrobe Magnesium firmographics
Firmographics- Name
- Latrobe Magnesium
- Legal name
- Latrobe Magnesium Limited
- Website
- https://latrobemagnesium.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Latrobe Magnesium (ASX:LMG) is a publicly listed Australian company that uses a patented hydrometallurgical and thermal reduction process to extract magnesium metal from brown coal fly ash and ferro-nickel slag waste, producing near-zero-waste output. It serves automotive, defense, and industrial customers primarily in the United States under long-term offtake agreements.
- Ownership category
- akta.pro rank
Latrobe Magnesium industry classification
Industry- Product category
- Magnesium Metal Production
- NAICS
- Ground or Treated Mineral and Earth Manufacturing (327992), Lime Manufacturing (327410), Crushed and Broken Limestone Mining and Quarrying (212312)
- SIC
- Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Magnesite & Magnesium Minerals Mining (IMAKAGAN)
- akta.pro secondary industries
- Magnesite & Magnesium Minerals (IMAEAFAL), Critical Minerals Recycling & Urban Mining (Li, Ni, Co, Graphite, REE) (IMAKAFAK), Mineral & Rock Dust Amendments (Basalt, Rock Phosphate, Greensand) (AFABADAJ)
Keywords
Where Latrobe Magnesium is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices3 records
Markets served
Latrobe Magnesium business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure
Revenue model
- Magnesium Metal Sales: Primary revenue stream from selling magnesium metal produced at demonstration and commercial plants under long-term offtake agreements to US customers. Stage 2 commercial plant will produce 10,000 tpa of refined magnesium metal sold under long-term contracts.
- Magnesium Oxide (MgO) Sales: Revenue from magnesium oxide production, with stockpiling underway and first deliveries to offtake partners and validation trials with multiple parties
- By-product Sales: Supplementary Cementitious Material (SCM), silica, iron oxide, calcium carbonate (agricultural lime), and char sold as valuable by-products that offset operating costs for magnesium production
- Prepayment/Non-Dilutive Funding: US$2 million non-dilutive funding from US distribution partner Metal Exchange for future shipments of magnesium, providing upfront capital for production
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Latrobe Magnesium product offering
Product offeringCore offering
Latrobe Magnesium produces magnesium metal and valuable by-products (Supplementary Cementitious Material, silica, iron oxide, calcium carbonate, and char) from industrial waste feedstocks including brown coal fly ash and ferro-nickel slag. The company operates a patented hydrometallurgical extraction and thermal reduction process at its Stage 1 Demonstration Plant in Hazelwood North, Victoria, with a planned 10,000 tpa Stage 2 Commercial Plant and a 100,000 tpa Stage 3 International Mega Plant in Malaysia.
Product overview
Latrobe Magnesium (LMG) operates a staged project pathway for sustainable magnesium production. The core offering is magnesium metal extraction from industrial waste (brown coal fly ash and ferro nickel slag) using a world-first patented hydrometallurgical extraction/thermal reduction process. Stage 1 is a 1,000 tpa Demonstration Plant producing magnesium oxide as an intermediate product, with Stage 2 planned as a 10,000 tpa Commercial Plant targeting late 2027, and Stage 3 envisioned as a 100,000 tpa International Mega Plant in Malaysia. The process generates multiple valuable by-products including Supplementary Cementitious Material (SCM), Silica, Iron Oxide (Hematite), Calcium Carbonate (Agricultural Lime), and Char. The company produces no waste streams and estimates 50% lower CO2 emissions than traditional magnesium producers.
Differentiator
Problem solved
Functional benefit
Products and services
- Magnesium Metal Magnesium metal extracted from brown coal fly ash using LMG's patented hydrometallurgical/thermal reduction process. A critical mineral with the best strength-to-weight ratio of structural metals, sold to automotive, aerospace, defense, medical, and electronics manufacturers under long-term offtake agreements.
- Supplementary Cementitious Material (SCM) By-product with chemistry similar to Portland cement, used as a cement replacement in concrete manufacturing. Can replace up to 30% of Portland cement and avoids 0.9 tonnes of CO2 per tonne of Portland cement in production. Sold to construction and cement industries.
- Silica By-product used in the cement industry as an admixture for concrete, improving durability, reducing thermal cracking, and enhancing strength and longevity of cement products.
- Iron Oxide (Hematite) High-grade hematite used as a complementary feedstock to iron ore in steelmaking, and also in pigments, radiation shielding, and heavy media separation applications.
- Calcium Carbonate (Agricultural Lime) Pure lime product containing around 37-40% calcium and rich in magnesium, used as agricultural lime to benefit and promote plant growth in agricultural industries.
- Char Char produced from the acid leach step and used as a charcoal replacement in fuel products such as heating briquettes. Valued for minor environmental pollution, high density, high calorific value, and low processing costs.
- Stage 1: 1,000 tpa Demonstration Plant World-first demonstration plant located at Hazelwood North in Victoria's Latrobe Valley that produces magnesium oxide (MgO) from brown coal fly ash using a proprietary patented hydrometallurgical extraction/thermal reduction process. Fully commissioning expected Q1 2026.
- Stage 2: 10,000 tpa Commercial Plant Planned commercial production facility in the Latrobe Valley producing 10,000 tpa of refined magnesium metal under long-term contracts. Expected to be operational by late 2027 with 100% of production under offtake agreements to US customers.
- Stage 3: 100,000 tpa International Magnesium Mega Plant International mega-plant planned for Samalaju Industrial Park, Sarawak, Malaysia, using ferro nickel slag feedstock with access to renewable hydropower. Pre-feasibility study completed with global firm Bechtel. Binding MoU signed for supply of 450,000 tonnes per annum of ferro-nickel slag over 20 years.
Quantifiable outcome
- 53% lower CO2 emissions per tonne of magnesium compared to traditional producers
- +4 more outcomes
Companies that use Latrobe Magnesium
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles2 records
Latrobe Magnesium technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Latrobe Magnesium partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and supporting.
- BechtelcoreGlobal engineering firm engaged to conduct bankable Feasibility Study for the 100,000 tpa Stage 3 mega plant using ferro nickel slag feedstock. Bechtel is the engineering partner for project development.
- Monash UniversitysupportingAcademic research partnership for technology development and innovation in magnesium extraction processes.
- CSIROcoreAustralia's national science agency partnership for R&D on vertical retort technology and process improvements. Collaborating on vertical furnace technology development.
- CoregassupportingWesfarmers company supplying industrial gases (Oxygen, Argon, CO2) for the Demonstration Plant. Digitized storage with 24/7 resupply managed by Coregas.
- Rockwell Automation AustraliasupportingPart of Strategic Supplier Program for plant automation solutions, contributing to Stage 2 commercial plant design.
- TenovasupportingSpray Roasting Equipment supplier for the Demonstration Plant; completed fabrication and installation of Spray Roaster.
- Metal Exchange CorporationcoreUS-based distributor providing US$2 million non-dilutive funding and securing offtake rights for planned commercial production. CEO met with Metal Exchange CEO in New York to discuss financing models.
- Société Le Nickel (SLN)coreBinding MoU signed for supply of 450,000 tonnes per annum of ferro-nickel slag over 20 years for Stage 3 mega plant in Malaysia.
- AMECsupportingAssociation of Mining Exploration Companies membership for industry networking and advocacy.
- Net Zero Economy AuthoritysupportingAustralian Federal Government agency recognition of LMG's Demonstration Plant as example of transforming legacy energy regions into hubs for clean technology and advanced manufacturing.
- Fast AutomationsupportingPart of Strategic Supplier Program providing furnace automation solutions for Stage 2 plant design.
- Mechanical Maintenance SolutionssupportingSMP services provider for construction and maintenance; completed structural, piping and mechanical modifications at Demonstration Plant.
- O&M Pty LtdsupportingElectrical and instrumentation services provider for Demonstration Plant construction and commissioning.
- Stirloch ConstructionssupportingLocal civil services contractor completing construction work at Demonstration Plant; completed over 90% of civil requirements.
Scale indicators12 records
Recent moves6 records
Expansion highlights7 records
Latrobe Magnesium competitors and assessment
Company assessmentRegional players
- Lynas Rare Earths: Australian-listed critical minerals processor serving Western supply chain diversification needs. Comparable as an Australian peer addressing strategic minerals vulnerability, with overlapping customer base in defense and EV supply chains.
Broad incumbents
- Norsk Hydro: Global aluminum major competing directly with magnesium in lightweight automotive applications. Comparable as a base-light-metal incumbent influencing price benchmarks and customer specifications in shared end markets.
Emerging players
- Solikamsk Magnesium Plant / VSMPO-AVISMA: Russian magnesium and titanium producers historically supplying Western markets; comparable as primary magnesium producers, though current geopolitical restrictions limit direct competition.
- Pilbara Minerals: Australian-listed lithium and critical minerals producer. Comparable as a publicly listed Australian company scaling critical mineral processing capacity for Western markets, with analogous capital structure and offtake-driven model.
- Australian Strategic Materials (ASM): Australian-listed critical minerals and rare earths processor with Korean metals plant. Comparable as an emerging Australian producer building Western critical minerals processing capacity with similar government funding linkages.
Direct peers
- US Magnesium: US-based primary magnesium metal producer, the only major North American competitor. Comparable as a Western, non-Chinese magnesium producer targeting the same automotive and defense customer base that LMG has secured offtake with.
- Luxfer Holdings (Magnesium Elektron): Through its Magnesium Elektron division, Luxfer is a global magnesium products and alloys supplier serving aerospace, defense, and automotive markets. Comparable as a Western magnesium specialist with similar end-market exposure.
- Magontec: Australian-listed magnesium alloy producer with operations in Europe and China. Closest direct peer as a publicly traded magnesium specialist competing in similar lightweighting and automotive end markets.
- Dead Sea Magnesium (Israel Chemicals / ICL subsidiary): Israel-based primary magnesium producer exploiting Dead Sea brines. Comparable as a non-Chinese primary magnesium producer with established automotive and aluminum alloy customers.
- RIMA Industrial (Brazilian Magnesium): Brazilian magnesium and aluminum alloy producer serving global automotive and steel markets. Comparable as a primary magnesium producer competing in Western export markets outside China.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights7 records
Customer concentration
Latrobe Magnesium social profiles
Digital presenceLatrobe Magnesium financial estimates
Financial estimateRevenue estimate
Valuation estimate
Latrobe Magnesium leadership team
Management profileNumber of profiles
Profiles10 records
Latrobe Magnesium subsidiaries and ownership
Company hierarchySubsidiaries1 record
Latrobe Magnesium funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Latrobe Magnesium M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Latrobe Magnesium
What does Latrobe Magnesium do?
Latrobe Magnesium produces magnesium metal and valuable by-products (Supplementary Cementitious Material, silica, iron oxide, calcium carbonate, and char) from industrial waste feedstocks including brown coal fly ash and ferro-nickel slag. The company operates a patented hydrometallurgical extraction and thermal reduction process at its Stage 1 Demonstration Plant in Hazelwood North, Victoria, with a planned 10,000 tpa Stage 2 Commercial Plant and a 100,000 tpa Stage 3 International Mega Plant in Malaysia.
Is Latrobe Magnesium a public or private company?
Latrobe Magnesium is a public company. It is classified as public and is currently operating.
When was Latrobe Magnesium founded?
Latrobe Magnesium was founded in 2000. It employs 1 to 10 people.
Where is Latrobe Magnesium based?
Latrobe Magnesium is headquartered in Sydney, Australia, in the Oceania region.
How does Latrobe Magnesium make money?
Four revenue lines are on record. Magnesium Metal Sales are the primary driver. The others are magnesium Oxide (MgO) Sales, by-product Sales and prepayment/Non-Dilutive Funding.
Who are Latrobe Magnesium's main competitors?
Lynas Rare Earths is listed as a regional player. Norsk Hydro is listed as a broad incumbent. Emerging players are Solikamsk Magnesium Plant / VSMPO-AVISMA, Pilbara Minerals and Australian Strategic Materials (ASM). Direct peers are US Magnesium, Luxfer Holdings (Magnesium Elektron), Magontec, Dead Sea Magnesium (Israel Chemicals / ICL subsidiary) and RIMA Industrial (Brazilian Magnesium).
Does Latrobe Magnesium have an API?
No public API is recorded for Latrobe Magnesium.
What industry is Latrobe Magnesium in?
Latrobe Magnesium's product category is Magnesium Metal Production. Its primary akta.pro industry code is IMAKAGAN, Magnesite & Magnesium Minerals Mining, with a secondary code of IMAEAFAL, Magnesite & Magnesium Minerals. Its NAICS code is 327992 and its SIC code is 1000.