In 2013 Magontec Limited signed a series of agreements with the Qinghai Salt Lake Magnesium Co. Ltd (QSLM). These agreements committed Magontec to the construction of a newĀ magnesium alloy cast house production facilityĀ and QSLM to the supply of 56,000 metric tonnes per annum of liquid pure magnesium

The agreements signed by Magontec and QSLM comprise a Magnesium Alloy Cast House Operating Agreement, an Off-Take Price Agreement and a Lease Agreement. These agreements describe and define the operating relationship between theĀ two companies, provide Magontec Limited with a 10 + 10 year lease and the exclusive right to manufacture all types of magnesium alloy at QSLMs GolmudĀ facility.

The financial relationship between QSLM and Magontec was also established in the agreements. QSLM is currently a 29% shareholder in Magontec Limited and has a seat on the Magontec Limited main board. The two companies enjoy a strong relationship and have worked together over three years during the construction phase.

The QSLM electrolytic magnesium smelter is located at Golmud in Qinghai Province PRC. The smelter has an output capacity of 100,000 metric tonnes per annum and produces the lowest CO2 embedded magnesium in the World. Energy for the complex is supplied from regional hydro facilities (75%), solar (9%) and wind as well as a local thermal power station.

QSLM is a subsidiary of Qinghai Salt Lake Industry Co Ltd (QSLI), a Chinese State Owned Enterprise that is listed on the Shenzen Stock Exchange (000792). QSLI has been extracting potassium from the Chaerhan Salt Lake systems for over 60 years. The residue from this activity includes a high magnesium and chlorine containingĀ deposit. Chinese Government estimates assess these deposits to contain around 4 bn metric tonnes of magnesium. Over the coming years QSLM is expected to grow its output of pure magnesium by building additional capacity at the Golmud site. Magontec Limited, as a close partner company, is expected to continue to operate as the magnesium alloy manufacturer at this site.

 

Vestibulum vel iaculis augue, id eleifend eros. Sed accumsan augue eget ipsum pulvinar feugiat? Proin at justo maximus, accumsan sapien nec, ullamcorper risus. Mauris tortor turpis, ornare eget justo eget, sodales auctor nibh. Aenean efficitur mattis neque! Nunc at erat consectetur, sodales velit ut, aliquet massa? Aliquam congue, arcu aliquam consequat aliquet, dolor sapien ornare nunc, quis tincidunt urna enim sit amet ipsum. Maecenas erat massa, pellentesque in posuere at, vulputate eu quam? Aenean id ornare nisi. Pellentesque accumsan mattis risus, ac vestibulum ipsum vulputate sed. Nam non consectetur lorem. Vivamus sollicitudin accumsan elit, mattis tincidunt enim. Aenean ac gravida mi. Donec euismod egestas tempor. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas.

In diam lacus, fringilla ac massa vel, accumsan ultrices libero. Suspendisse sagittis interdum nisl, sed sodales leo eleifend maximus. Nunc condimentum felis nunc. Nullam ultricies justo eu felis pretium, quis ultricies erat vestibulum. In eget orci eget enim vestibulum condimentum. Aliquam ultrices, lacus vitae pretium consequat, turpis diam tristique orci, scelerisque sagittis lacus nisi at urna. Curabitur leo metus, lobortis a urna sit amet, ullamcorper semper mi.

Mauris ac pellentesque est, sit amet luctus urna. Nam rutrum dolor ut dolor facilisis faucibus. Vivamus tincidunt, orci at pretium mollis, tellus libero consectetur nisi; at lacinia augue massa quis felis. Etiam congue nibh eget sem venenatis, sit amet feugiat nisl malesuada. Nulla ultrices tempor urna auctor luctus. Ut fermentum purus mauris, a tristique massa tristique et. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Interdum et malesuada fames ac ante ipsum primis in faucibus. Duis volutpat, orci ac molestie vehicula, metus justo vestibulum sem, ac pharetra lacus mauris sit amet enim. Suspendisse enim arcu, vestibulum eget congue in, blandit at lectus. Nam viverra mi et tellus mattis gravida ac at augue. Interdum et malesuada fames ac ante ipsum primis in faucibus. Aenean suscipit nisl ac nibh imperdiet iaculis. Maecenas euismod aliquam erat vel dapibus.

Vestibulum vel iaculis augue, id eleifend eros. Sed accumsan augue eget ipsum pulvinar feugiat? Proin at justo maximus, accumsan sapien nec, ullamcorper risus. Mauris tortor turpis, ornare eget justo eget, sodales auctor nibh. Aenean efficitur mattis neque! Nunc at erat consectetur, sodales velit ut, aliquet massa? Aliquam congue, arcu aliquam consequat aliquet, dolor sapien ornare nunc, quis tincidunt urna enim sit amet ipsum. Maecenas erat massa, pellentesque in posuere at, vulputate eu quam? Aenean id ornare nisi. Pellentesque accumsan mattis risus, ac vestibulum ipsum vulputate sed. Nam non consectetur lorem. Vivamus sollicitudin accumsan elit, mattis tincidunt enim. Aenean ac gravida mi. Donec euismod egestas tempor. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas.

In diam lacus, fringilla ac massa vel, accumsan ultrices libero. Suspendisse sagittis interdum nisl, sed sodales leo eleifend maximus. Nunc condimentum felis nunc. Nullam ultricies justo eu felis pretium, quis ultricies erat vestibulum. In eget orci eget enim vestibulum condimentum. Aliquam ultrices, lacus vitae pretium consequat, turpis diam tristique orci, scelerisque sagittis lacus nisi at urna. Curabitur leo metus, lobortis a urna sit amet, ullamcorper semper mi.

Mauris ac pellentesque est, sit amet luctus urna. Nam rutrum dolor ut dolor facilisis faucibus. Vivamus tincidunt, orci at pretium mollis, tellus libero consectetur nisi; at lacinia augue massa quis felis. Etiam congue nibh eget sem venenatis, sit amet feugiat nisl malesuada. Nulla ultrices tempor urna auctor luctus. Ut fermentum purus mauris, a tristique massa tristique et. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Interdum et malesuada fames ac ante ipsum primis in faucibus. Duis volutpat, orci ac molestie vehicula, metus justo vestibulum sem, ac pharetra lacus mauris sit amet enim. Suspendisse enim arcu, vestibulum eget congue in, blandit at lectus. Nam viverra mi et tellus mattis gravida ac at augue. Interdum et malesuada fames ac ante ipsum primis in faucibus. Aenean suscipit nisl ac nibh imperdiet iaculis. Maecenas euismod aliquam erat vel dapibus.

MENU