Australia’s Magnum Mining rises on iron ore find in US

Magnum Mining and Exploration

20/11/2023 04:37

** Shares of Magnum Mining and Exploration Ltd  MGU.AX  rise
as much as 14.8% to A$0.031, set to mark best day since Nov. 8,
if gains hold 
    ** Mineral exploration co says it has found additional
magnetite concentrate at Buena Vista Iron Project in Nevada, US
    ** Says ore will support an average annual concentrate
production of 800,000 tonnes of iron 
    ** Magnetite concentrate is a grey-black magnetic mineral
used to extract iron ore 
    ** Stock up 28.6% this year, as of last close

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))