EcoMag, Australia’s premium supplier of high-purity magnesium salts, has been awarded a grant from the Western Australian government to establish an advanced manufacturing magnesium facility in the state.
The state government grant will contribute to EcoMag’s magnesium recovery project in Karratha, Western Australia. The plant will process concentrated seawater from Australia’s largest solar salt producer to manufacture a series of high-purity magnesium salts for use in pharmaceutical, food and manufacturing applications.
EcoMag submitted a detailed application to the WA government’s Investment Attraction Fund (IAF) in October 2022 after being shortlisted alongside over 60 other applicants. Designed to encourage new investment in WA, the fund seeks to support proposals that will create local jobs and contribute to a more diversified economy.
EcoMag Chief Executive Tony Crimmins said the grant highlights the significant role EcoMag can play as a supplier of high-purity magnesium salts and the broad support it has from all levels of government.
“This grant paves the way for EcoMag to tap into a significant waste-to-resource opportunity and create new innovative job prospects in the state.”
“The Karratha project will not only play a vital role in bolstering Western Australia’s economy but will also strengthen Australia’s capability in the domestic magnesium market by reducing reliance on imported materials.”
“We anticipate EcoMag’s project will attract new investment opportunities in regional WA related to critical minerals and advanced manufacturing and broaden employment opportunities beyond the established industries.”
While the initial Karratha Project will process less than one per cent of the magnesium contained within the waste stream — translating to almost 6,000 tonnes per year of magnesium products — the project is planned for commercial expansion to produce over 40,000 tonnes per year, which will be used in pharmaceutical and fire-resistant construction applications.
The announcement follows news that EcoMag has successfully passed the Northern Australia Infrastructure Facility’s (NAIF) strategic investment process for a significant portion of the Karratha project. The Federal Government’s financier will make a final investment decision following satisfactory due diligence and further approval by the NAIF Board.
To review the recipients of the fund please click on this link Investment Attraction Fund Recipients (investandtrade.wa.gov.au)