Alliance Magnesium produces its first magnesium ingots and obtains a $4.1 million loan
Tuesday, May 02, 2020
ALLIANCE MAGNÉSIUM (AMI) is proud to announce the production of its first metal magnesium ingots at its Danville demonstration plant in Quebec. This achievement comes after four years of technological development, design and construction of a pilot plant. The ingots, which are now produced on a regular basis, are used to validate the manufacturing process developed by AMI and to collect the technical and economic information necessary for the subsequent phases of magnesium production.

“This is a crucial step in the development of AMI that has just been completed. It depends on the hard work of all our staff, as well as our financial, technical and government partners who share our ambition to become the greenest magnesium producer on the planet. “Said Dr. Joël Fournier, Chief Executive Officer of AMI.

AMI is also announcing a $4.1 million loan from the Fonds de diversification économique de la MRC des Sources, a fund created by the Government of Québec. The proceeds of this funding will go toward the operations of its pilot plant and the preparation of its $ 100 million commercial demonstration plant, which will take shape during the year and create more than 70 jobs.

“We are delighted to count the Regional Fund as one of our strategic partners in the evolution of our company,” said Dr. Fournier. “This financial contribution demonstrates the recognition of AMI’s business model as a key driver of the region’s economic recovery and its positive impact on the community. ” he added.

AMI has invested more than $12 million in the region over the past three years and directly and subcontracts more than 20 professionals and operators.

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