RE:RE:RE:RE:RE:Magnesium NickelRS - Taking the gross value ... $400 billion [CAD] and China Mag99% spot price of 24,250 CNY/tonne, I calculated 88.5M Mg tonnes for the Chaudire-Appalaches and Estrie regions.It should be noted the spot price is half the one year high set in Nov 2021. Lets half the tonnage to 44.25M Mg tonnes to refect the Nov peak price and losses in the process.
I found this interesting as well:
CM predicts that global magnesium production will grow at an average annual rate of 5.1% from 2020 to 2030, reaching about 1.4 million tons by 2025 and about 1.8 million tons by 2030. Driven by demand and price, new projects and expansion projects of original magnesium will be completed and put into production in China and other countries in the next 10 years, with an average annual growth rate of 4.3% in China and 7.8% in other countries. Although there will be some changes in the global magnesium supply pattern in the future, and the supply will be diversified, China is still the world's leading producer of primary magnesium, with an output proportion of more than 75%. CM listed five foreign magnesium smelting projects under construction and proposed, respectively in Canada, the United States, Australia and Norway.
Noting a global production target of "1.8 million tons by 2030", the Quebec based ECO 2 Magnesium plant could meet the global demand for 20 years (LOM). I doubt this would happen but does make you wonder about the price Mg as these competing plants come online and flood the market with Mg.
Most of the partners involved are Quebec companies which will have polictical backing and will influence the direction being used in Quebec.