DANVILLE, QC – The federal government is investing $12 million in Alliance Magnesium (AMI). The funding is being provided by Sustainable Development Technology Canada (SDTC), which works with Canadian companies to bring clean technologies to market.
Building on the success of its pilot plant in Quebec, Alliance Magnesium will use the STDC funding to support the second phase of demonstrating its clean magnesium production technology. The company’s innovative process recycles tailings from mining activity to produce magnesium metal.
As the demand for magnesium metal increases in areas such as automotive manufacturing, today’s investment will help ensure Alliance Magnesium is well positioned to become a global leader in clean technology solutions for the mining sector.
The investment in Alliance Magnesium will create 70 direct jobs.
“Asbestos production is banned in Canada. However, investments such as the one in Alliance Magnesium are key to Canada’s transition to a greener economy,” said Marie-Claude Bibeau, minister of international development. “The federal government’s support for the company’s production of magnesium from asbestos tailings will contribute to regional economic diversification efforts in the RCM des Sources and will benefit its residents.”
“We are very happy to receive this major financial contribution from the federal government,” said Joël Fournier, president of alliance magnesium. “It shows that the government recognizes the value of AMI’s work in developing green technologies and reducing GHGs in the transportation and light metal alloy industries. Not only does our reclamation of mining waste technology have the potential to generate international interest but it also complies fully with sustainable development, environmental protection and population health and safety policies.”