- Published: Wednesday, 06 December 2017 20:55
- Written by E&MJ News
Quebec-based Alliance Magnesium has acquired all the shares of Magnola Metallurgy Inc. and Magnola Mining Inc., giving it full ownership of Magnola’s industrial and mining sites in Danville, Quebec. The site includes facilities and equipment from the former magnesium plant, whose value was recently estimated by an independent appraiser at more than C$85 million. The property also contains a valuable residue deposit estimated at more than 100 million metric tons (mt) of serpentine rock, bearing approximately 25% magnesium.