Alliance Magnesium is a new company that fights climate change through reclamation and innovation. It’s the story of entrepreneurs who persevered despite the obstacles, because they believed in their cause.
Alliance Magnesium was the first company to take interest in the assets of Magnola Metallurgy and Magnola Mines for their potential. The founders saw a climate change project, existing and well-maintained infrastructure on an exceptional site, and large quantities of tailings to be transformed into value-added metal. Alliance Magnesium now owns the site after being a tenant for a few years.
The environmental benefits, technological innovation and economic potential of Alliance Magnesium’s business plan, as well as its respect for worker health and safety and its skilled management, allowed the company to develop a financial model and sign important financial partnerships.
Since then, Alliance Magnesium has continued to demonstrate the environmental, economic and social potential of its activities to governments, financiers, the public, shareholders and its workers. Alliance Magnesium has obtained all the required certifications and permits and cooperated with government agencies, four financial institutions and numerous strategic partners and shareholders on due diligence.
Nothing is left to chance: Alliance Magnesium is turning an environmental and mining liability into a value-added economic asset with the utmost respect for health, safety and the environment, in addition to sharing Quebec’s engineering expertise with the world.
Alliance Magnesium Inc. founded
Development of the business plan
- Technology and engineering audit
Development of Board of Directors
Loan from the Fonds de diversification économique de la MRC des Sources for the pilot plant
Creation of a citizens committee to keep tabs on the project
- Acquisition of two (2) patent families
Installation and construction of the pilot plant at Magnola
Private financing agreements signed
- A family of patents obtained
Financial assistance from the Fonds de diversification économique de la MRC des Sources for the pilot plant
Contribution from Sustainable Development Technology Canada
Certificate of authorization
- Magnesium recycling certificate of authorization obtained for the pilot plant
- 12 employees including 7 in the plant
Development of the financial model and private financing arrangements
Public information meetings
Federal and provincial government participation in the commercial demonstration plant
Marubeni as a shareholder
Recognition and funding from Transition énergétique Québec
New Board of Directors
Collaboration agreement with the Carrefour d’innovation sur les matériaux de la MRC des Sources (CIMMS)
- Research and development
Certificate of authorization for the commercial demonstration plant obtained
- Fondaction as a shareholder
- Financial assistance from Investissement Québec
- Commercial demonstration plant financial close