Magnesium Int'l to Sell Power Station to Fund Smelter

Magnesium International is looking for expressions of interest for the sale of its power station development at Port Pirie. The finds from the sale will be used for the development of their SAMAG magnesium smelter project.

The site is located adjacent to the proposed magnesium smelter and was intended to be used to generate power for the smelter. However, SAMAG signed a contract to take power from NRG Flinders and no longer needs to construct the power plant.

The site has approval for the construction on a 400MW gas fired power station. The approval is valid until 2004 and would save a potential power station developer time and money.

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