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#1 05-06-2019 05:03:32

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Date d'inscription: 03-06-2019
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Golden Goose Outlet close

Govt support for magnesium smelter study

The Victorian Government is backing a feasibility study into the establishment of a magnesium smelter in the Latrobe Valley, in south-east Victoria.

Latrobe Magnesium Limited proposes building the plant https://www.goldengooseshoesit.com adjacent to Hazelwood power station and will use fly-ash from Latrobe Valley power stations as its raw material.

The State Treasurer and Minister for Regional Development, John Brumby, says the Victorian Government is matching a federal contribution of $1.4 million to the study.

Mr Brumby says although it is early days, it is a great project which he believes has a good chance of succeeding.

"If it does succeed, you're looking at a total investment of nearly $1 billion, $984 million, more than 1,000 ongoing direct and indirect jobs, $400 million worth of production each year," he said.

"So it's a huge project and I think the beauty of it is that environmentally it'll be the best in the world."

The chief executive officer of Latrobe Magnesium, Chris Sylvester, says the state and federal funding will enable his company to get on with a bankable feasibility study, which will cost about $20 million.

He says that if all goes well, the proposed plant should begin producing magnesium in about four-and-a-half years.

"Assuming that during the course of the bankable study we can get pretty close to financial, close on financing the construction of the smelter, I would say we would say we would require two years for the study, six months for Golden Goose Outlet financial close and two years for construction," he said.

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