Australia's Latrobe Magnesium jumps on ferro-nickel sourcing deal

Latrobe Magnesium

12/09/2022 04:22

** Shares of Latrobe Magnesium Ltd  LMG.AX  climb as much as
8.5% to A$0.089, their highest since Sept. 2
    ** Magnesium producer announces execution of a binding
memorandum of understanding (MoU) with ferro-nickel producer
Société Le Nickel (SLN)  urn:newsml:reuters.com:*:nASX5C43T6
    ** Latrobe to receive supply of 450,000 tonnes per annum of
ferro-nickel slag for 20 years for its 100,000-tpa magnesium
plant
    ** Stock to mark best session since Aug. 30 if gains hold 
    ** Stock had fallen 14.6% this year, as of last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))