Western Magnesium Corporation (CVE:WMG) (FRA:M1V) (OTCMKTS:MLYF) has said it continues to operate at full capacity during the current challenging times, made further complicated due to the resurgence of coronavirus (COVID-19) restrictions, and it is continually assessing timelines for the completion of the plant.
The company noted that its internal timelines and work in the office and by its staff have not been impacted by any of the ongoing new restrictions and it is working diligently to overcome interruptions and slowdowns that suppliers it works with are facing.
READ: Western Magnesium Corporation starts work on its first commercial pilot plant to produce low-cost and green magnesium metal
At this time a great deal has been accomplished toward the build-out of the commercialized pilot plant, with the company having obtained the required permits from the municipality to complete the required facility upgrades and construction. This will mitigate any future delays once the group receive long lead items such as the Western Magnesium reactor, it added.
To that effect, the group said the following is taking place:
- Design Engineering is complete enabling us to move forward with the buildout of the reactor
- All permits are in place and contractors, fabricators, and suppliers, which have been selected, can now begin the work on the plant facilities.
- A portion of long-lead items for the pilot plant are now complete and already shipped.
- 14 new operational employees for the commercialized pilot plant have been hired and will start work at the facility on January 11th, 2021
- Finally, field engineering is underway allowing our construction contractors to commence immediately in our plant facility
The company said: "Western Magnesium would like to thank our shareholders for their patience during a very difficult time. We also want to thank all the engineering firms, suppliers, and contractors for continuing to work with us despite the fact that they have been impacted by the ongoing challenges of the COVID-19 pandemic.
"Further, we want to thank our staff for continuing to work at full capacity during this time and their commitment to maintaining, as best as they can, the timelines that have been laid out by senior management. Western Magnesium will continue to provide updates on plant operations and build-out, as we continue to assess and reassess timelines for the completion and operation of the commercialized pilot plant. We are very excited, with permits in place, to continue the work on the road to producing magnesium metal."
Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, the company looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
The group is building out its first commercialized pilot plant in Canada to become a low-cost producer of eco-friendly magnesium metal by the first quarter of 2021.
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