Latrobe Magnesium Limited has received a non-binding letter of support for a US$15 million equity funding package to finance the feasibility study for its planned 50 thousand tonne per annum primary magnesium metal plant in South Carolina, United States.

The proposed arrangement will direct the investment into the United States project subsidiary. However, the letter of support remains conditional. It requires Latrobe Magnesium to secure an equivalent US$15 million in financing from a specified confidential entity based in the United States, complete due diligence to the satisfaction of the counterparty, obtain all required internal and regulatory approvals, and negotiate and execute definitive written agreements.

Because the letter is non-binding, the company is continuing negotiations with other parties to secure funding for the feasibility study, land acquisition, and working capital needs of the United States subsidiary.

The company announced its initial pursuit of the 50 thousand tonne per annum primary magnesium metal plant in South Carolina, USA, on 15 September 2026. Feedstock for the proposed installation is secured through a binding 20-year ferronickel slag memorandum of understanding with Société Le Nickel.

Following the initial work for the primary facility, Latrobe Magnesium intends to enter negotiations to cater for expansion optionality for a second 50 thousand tonne per annum train at its U.S. project.

Read the full announcement: LMG US Funding Letter of Support