Using its proprietary technology, Mag One Products Inc.'s (Mag One) goal is to become a processing and refining company that will result in it being the world's lowest-cost producer of 99.9% pure magnesium (Mg) metal ingots and ultra-pure magnesium compounds.
MAG ONE PRODUCTS INC. on InvestmentPitch Media.
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Magnesium (Mg) is recognized as a metal of the future with demand projected to increase by 5% each year for the next five years. Currently, China produces more than 80% of the world’s supply using an environmentally unfriendly and labor-intensive technology (the Pidgeon Process). High import duties have restricted the use of Chinese magnesium in the U.S. Therefore, with only one active magnesium manufacturer in North America (US Magnesium in Salt Lake City, Utah), and with a growing U.S. demand, there is a need for a low-cost, high-capacity North American magnesium producer.
Mag One's objective is to become a processing and refining company, using its proprietary manufacturing technology, that will allow it to be the world’s lowest-cost producer of 99.9% pure magnesium (Mg) metal ingots and ultra-pure magnesium compounds.
With a target operating cost that is at least 25% lower than existing global Mg Producers, and a Mg sale price ranging from $2,400 to $4,300 USD/tonne, Mag One's annual profitability for each 5,000 tonne/year (t/y) module is projected to be in excess of $5M. A 100,000 t/y production facility is therefore expected to generate profits in excess of $100M each year.