News

13 december 2023

Delegates from Midmetal & Magnum

A delegation from Magnum and Midmetal visited China in December 2023, meeting with the SDM technical team to coordinate efforts and streamline challenges involving Hismelting technology. The visit included a site visit to the Hismelting Plant near Jinan City, where the Midmetal team examined several plant specifics. At the conference, the team addressed all areas of Hismelting technology, including but not limited to working processes, plant production history, reliability problems and difficulties, and plant structure. Everyone was pleased with the visit's completion, and more participation is expected soon.

Delegates from Midmetal & Magnum
03 feb 2024

Magnum & Midmetal in Riyadh ( capital of saudi arabia )

Midmetal team along with Magnum team attend a meeting with National Industrial Development center NIDC to discuss Hismelt project in kingdom of saudi arabia to produce Green pig iron and path forward Meeting attended by Mr. Sultan albogami from Midmetal Along with Mr. Neil Goodman and Mr. Athan lukkas from Magnum mining & exploration limited

Midmetal team along with Magnum team
8 march 2024

Magnum, and Midmetal enter shareholders’ deal for Saudi green pig iron project

Midmetal and Magnum Mining & Exploration has signed a shareholders' agreement for the development of a Green Pig Iron-making facility in Saudi Arabia. The partnership makes Magnum a 50% owner of Midmetal through the issuance of half of Midmetal's fully paid ordinary shares. The Green Pig Iron-making facility, featuring HIsmelt technology, will leverage high-grade magnetite concentrate from Magnum’s Buena Vista Iron Project in Nevada, US, and mill waste from steel plants in the Arabian Gulf region.

The innovative use of renewable biochar from Malaysian biomass as the iron reductant positions the project to potentially bypass more costly hydrogen-based methods. As per the agreed terms, Midmetal’s Saudi shareholders have committed to providing half of the development funding, sourced from the Saudi Industrial Development Fund or alternative investors.

Magnum CEO Neil Goodman said: “The maturing relationship between Magnum and Midmetal has landed on a shared vision of how HIsmelt and our Buena Vista Iron Project can be developed in a strongly economic and sustainable way. “The pathway forward is starting to crystallise by bringing into focus the opportunities that Midmetal represents. The intimate relationship that a joint shareholding facilitates will ensure the project has the very best chances of commercial success. “Magnum anticipates the working relationship already established with Midmetal will continue to develop to the advantage of Magnum’s shareholders.”

Magnum, and Midmetal enter shareholders’...

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