Dec 17 2004
Magnesium International Limited (MIL) announced today that it has confirmed Egypt as the location for its 88,000 tonne per year magnesium smelter project. The smelter will be owned and operated by a special purpose company called Egyptian Magnesium Company (EMAG) which is currently being established by MIL and Amiral Investments MIL’s partner in Egypt, under Egyptian Investment Laws.
MIL’s Managing Director, Gordon Galt, said today “We have chosen Egypt after an exhaustive study of possible sites worldwide and I am convinced that Egypt will deliver the world’s best combination of the factors which will affect the success of our venture. There is a very pro-development attitude in the Egyptian Government at present and we look forward to making rapid progress with the project from here on.”
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