I never said LMG are Net Zero producers
“How can Magnium still claim they will be the world’s first net-zero magnesium foundry when LMG will very likely hit the finish line well before them?”
I have spoken to David a number of times and he has made it clear that Net Zero is their goal.
I also did not mention the difference between fly ash and ferro nickel slag and the implications for reduction of Co2. For your sake I will also make my point by quotes and links and step through this point. Net Zero if achieved will be from ferro nickel slag as the feedstock.
Melbourne Mining Club Presentation
March - 2022
David Paterson CEO
“The energy source is expected to be from a renewable source, and therefore its CO2 emissions will be close to zero.”
https://www.latrobemagnesium.com/investor-center/investor-presentations
Latrobe Magnesium Web site
“LMG is targeting net zero emissions by 2030 through the use of renewables and other technology advancements in conjunction with industry and its partners such as CSIRO.”
https://www.latrobemagnesium.com/sustainability
Small Caps October 2021
Time mark 18.48 David mentions again that LMG are aiming for Net Zero
https://www.youtube.com/watch?v=-d6TGvFxb2Y
LMG have set net zero as their goal. The current calculations are 0.7CO2 t/tMg using ferro nickel slag as feedstock. LMG believe they will achieve Net Zero via further modification of the efficiencies of their Hydromet and now with the added support of the collaboration with Tenova.
"Tenova is your worldwide partner for sustainable, innovative and reliable solutions in the metals and the mining industries." "From reducing production costs and energy consumption to introducing cutting-edge green features, we believe no improvement is too small, especially when innovation addresses clear market needs."
https://www.linkedin.com/posts/tenova_welcome-innovative-magnesium-activity-6971452439254167552-iyq5?utm_source=share&utm_medium=member_desktop
Is it greenwashing? Perhaps.
Does it take into account the very valid points that @tropic made?
“There will be carbon emissions for both LMG and Magnium in
- recovering the feedstock to feed into the process
- preparing the feedstock -particularly for Magnium however LMG fly ash and slag will already be ground down to a powder
- baseload power to back up the renewables - we know that renewable energy is not 100% reliable”
Only time will tell and I hope there will be some demonstration of their calculations.
Ken
