(TheNewswire)
WASHINGTON, D.C. – TheNewswire – June 7, 2022 - Western MagnesiumCorporation (TSXV:WMG.V ) ; ( OTC:MLYF ) ; ( Frankfurt:3WM)(“Western Magnesium” or the “Company”) is celebratingunprecedented success in the production of magnesium metal at itscommercial pilot plant. Management is excited that its proprietarycontinuous reactor is operating as designed, maintaining targettemperature and pressure while allowing for continuous feed,discharge, and magnesium production. Achieving silicothermic reductionin a continuous reactor is a milestone that has never beenaccomplished globally to date, and the Company looks forward to thenext steps of demonstration that will take place.
As the holder of proprietary technology that allows forthe environmentally safe production of magnesium metal, WesternMagnesium has an extraordinary opportunity to fill the surging demandin the auto, aerospace, airline, eco-friendly industries, and theDepartment of Defense, essentially answering market demand that issurging in America. Magnesium is essential to the production ofaluminum and titanium and a scarcity of the raw material could worsenan already tight supply territory.
Domestic magnesium production was offshored to Chinayears ago in part because operational costs in North America becameexcessive and old production methods of extraction proved harmful tothe environment. Western Magnesium’s proprietary technology andproduction methods will allow the Company to produce 99.8 percent puremagnesium metal with near-zero environmental consequences. This willmake North America far less reliant on China for this critical mineralthat will lighten and improve a wide range of civilian and defensegoods and be an additive in multiple other processes such as aluminumand titanium.
“The success of our magnesium production that we areseeing at our commercial pilot plant ushers in a new era for WesternMagnesium and the United States,” said Western Magnesium’sExecutive Chairman Ed Lee. “I am humbled by both the management andoperations team, and their continued drive to challenge the status quoand develop this unparalleled technology. We are closer than ever toexhibiting how America can run metal production operations in anenvironmentally sound and sustainable way.”
“It’s a thrilling time to be at the forefront ofthis manufacturing revolution,” said Western Magnesium’s ExecutivePresident & CEO Sam Ataya. “We have witnessed the birth of a newtechnology that puts us on the cutting edge of showcasing novelsolutions and setting new standards for responsible “green”magnesium production and ending America’s reliance on China for astrategic mineral that we simply must have to ensure our nationalsecurity. With this achievement, we are maintaining the path toproviding long-term stable supply to both domestic and defense sectorswithin the United States.”
“These next few years will put America at theforefront of creating a stable supply of magnesium metal and willplace Western Magnesium on a path to competing directly with China asdomestic and global demand grows,” said Western Magnesium’s GlobalPresident and Chief Operating Officer Lisa Maxwell.
“It is a true honor to be at the helm of thisinnovative technology that has been years in the making,” saidWestern Magnesium’s Chief Technology Officer Paul Sauve. “We haveworked tirelessly to ensure the efficacy of this unprecedentedtechnology and strongly believe that it will ultimately meetproduction needs in an environmentally responsible and ecologicallysound way.”
Western Magnesium’s technology which was developed inthe commercial pilot plant is based on continuous silicothermicreduction and a proprietary collection system and is internallydesigned to refine the Company’s production methods.
Once refined, this scalable technology will beinstalled in a new facility in Harrison County, Ohio. The Companyintends to begin construction of this full-scale facility next yearand will produce more than 100,000 metric tons annually. The megaplant will have the capacity to produce 10 percent of the world’scurrent supply and will employ 250 full-time andfive hundred support personnel in Harrison County. The Company will bereviewing all steps of the process to ensure efficient and successfulproject execution and completion.
Figure 1 – Magnesium metal pouredat Western Magnesium’s commercialized pilot plant
Figure 2 – Members of theCompany’s operations team
Figure Click Image To View Full Size |
Figure Click Image To View Full Size |
About Western Magnesium
Western Magnesium's goalis to be a low-cost producer of green, primary magnesium metal, astrategic commodity prized for its strength and light weight. Unlike outdated, costly,and highly polluting production processes, Western Magnesium intendsto use a continuous silicothermic process to produce magnesium, whichsignificantly reduces labor and energy costs relative to currentmethods and processes, while being environmentally friendly.
Media Relations & CorporateCommunications : Ashleigh Barry | abarry@westmagcorp.com | (202) 258-4453
Investor Relations : John Ulmer | julmer@westmagcorp.com |(604) 423-2709
Safe Harbor Statement
This news release containsstatements that involve expectations, plans, or intentions (such asthose relating to future business or financial results), and otherfactors discussed from time to time in the Company’s Securities andExchange Commission filings. These statements are forward-looking andare subject to risks and uncertainties, so actual results may varymaterially. You can identify these forward-looking statements by wordssuch as “may,” “should,” “expect,” “anticipate,”“believe,” “estimate,” “intend,” “plan” and othersimilar expressions. Our actual results could differ materially fromthose anticipated in these forward-looking statements as a result ofcertain factors not within the control of the Company. The Companycautions readers not to place undue reliance on any suchforward-looking statements, which speak only as of the date made. TheCompany disclaims any obligation subsequently to revise anyforward-looking statements to reflect events or circumstances afterthe date of such statements or to reflect the occurrence ofanticipated or unanticipated events.
This news release does notconstitute an offer to sell or a solicitation of an offer to buy anyof the securities described in this news release. Such securities havenot been, and will not be, registered under the United StatesSecurities Act of 1933, as amended (the “U.S. Securities Act”), orany state securities laws, and, accordingly, may not be offered orsold within the United States, or to or for the account or benefit ofpersons in the United States or “U.S. Persons”, as such term isdefined in Regulation S promulgated under the U.S. Securities Act,unless registered under the U.S. Securities Act and applicable statesecurities laws or pursuant to an exemption from such registrationrequirements.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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