Australia's Latrobe Magnesium rises most since 2014 on pursuing US plant

Latrobe Magnesium

15/09/2026 02:07

** Shares of Latrobe Magnesium LMG.AX rise as much as 80% to A$0.018, their biggest intraday pct gain since November 2014 
** Stock hits its highest level since June 4 
** The magnesium metal developer says it plans to pursue a 50,000 ton-per-annum (ktpa) primary metal plant in South Carolina, United States
** Company says it has signed letters of intent for 32 ktpa of committed demand from U.S. consumers and traders, with substantial backing from the South Carolina state
** Adds indicative economic assessment for plant is based on capital estimate range of $1.1 billion-$1.5 billion
** More than 24.8 million shares change hands, 3.5 times the 30-day average
** Stock down 19.1% YTD, including the day's moves



 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))