Australia's Latrobe Magnesium soars on $122 mln U.S. EXIM financing

Latrobe Magnesium

21/10/2025 24:42

** Shares of Latrobe Magnesium LMG.AX rise as much as 46.2% to A$0.038, their highest level since October 10, 2024

** Stock set for strongest session since September 25, if current gains hold

   ** The U.S. Export Import Bank (EXIM) issued letter of interest stating it is prepared to finance up to $122 mln for co's Stage 2 Commercial Plant

** Commercial Plant being developed by co in Victoria has a capacity of 10,000 metric tons per annum of magnesium metal

** About 19.7 mln shares change hands vs the 30-day average volume of 3.6 mln shares

** Stock up 66.2% YTD, including the day's moves

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))