WASHINGTON, D.C. – TheNewswire – Could 12, 2022 – Govt President and CEO of Western Magnesium Corporation, (TSXV:WMG.V); (OTC:MLYF); (Frankfurt-3WM) (“Western Magnesium” or the “Firm”), Sam Ataya appeared on Fox Business this week to debate the significance of home steel manufacturing and spotlight magnesium’s significance as a “tremendous steel.”
In the course of the televised interview on Making Money with Charles Payne, Payne referred to the present hazardous environmental practices of manufacturing magnesium steel abroad and requested Ataya what particularly is altering manufacturing processes now. Ataya answered, “Expertise is altering every part. If we spend money on expertise and take a look at the long-term view, we are able to do the identical factor the remainder of the world is doing besides higher and inside our personal borders.”
Western Magnesium is a number one innovator of unpolluted industrial expertise able to re-establishing manufacturing of magnesium steel in America. In offering a safe and steady provide chain for home business and the U.S. navy, Western Magnesium can be a key contributor to American nationwide safety whereas enabling the creation of tens of hundreds of jobs in our home manufacturing business.
The Firm has lately accomplished development of its industrial pilot plant which is able to start producing magnesium steel on the finish of this month. This expertise, developed during the last 10 years, will additional allow a large-scale industrial manufacturing facility able to producing over 100,000 metric tonnes yearly. The Firm intends to interrupt floor on this inaugural facility in Harrison County, Ohio in 2023.
These necessary developments come as Senate laws is launched which is geared toward rising home manufacturing of essential minerals, particularly the bipartisan invoice from Sen. James Lankford (R-OK) which seeks to remove dependence on international producers. Lankford warns, “It’s vitally necessary to resolve our dependence on China for minerals as a result of we use these supplies day by day in every part from cellphones and batteries to navy gear and medical gadgets.”
Magnesium is an efficient instance of the risks of our reliance on China. This factor, essential to the manufacturing of aluminum and to home automotive and aviation manufacturing, noticed an almost four-fold worth improve when China arbitrarily reduce manufacturing final 12 months. For many years now, America has outsourced manufacturing of magnesium to China due to the extraordinarily excessive environmental prices. Nevertheless, as Sam Ataya talked about in his interview on Making Cash with Charles Payne, “We’re about to indicate the world how new expertise and manufacturing methods can shield the surroundings, create jobs, educate American employees helpful abilities and shield U.S. nationwide safety.” Ataya added, “America wants its personal dependable provide of magnesium, and laws introduced ahead by Sen. Lankford will go a protracted option to serving to our Firm and others carry a couple of renaissance in U.S. manufacturing of this and different essential minerals.”
About Western Magnesium
Western Magnesium’s purpose is to be a low-cost producer of inexperienced, major magnesium steel, a strategic commodity prized for its power and gentle weight. In contrast to outdated, pricey, and extremely polluting manufacturing processes, Western Magnesium intends to make use of a steady silicothermic course of to provide magnesium, which considerably reduces labor and vitality prices relative to present strategies and processes, whereas being environmentally pleasant.
Media Relations & Company Communications: Ashleigh Barry | [email protected] | (202) 258-4453
Investor Relations: John Ulmer | [email protected] | (604) 423-2709
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