Latrobe Magnesium Limited (ASX:LMG; OTC:LTRBF), founded in 1986 and headquartered at 320 Tramway Road, Hazelwood North, Victoria, Australia, develops and operates proprietary hydrometallurgical extraction and thermal reduction processes to produce magnesium metal and associated by-products from magnesium-rich waste feedstocks such as fly ash from brown coal power plants and ferronickel slag; core products include magnesium oxide, magnesium metal, supplementary cementitious material, silica, char, iron oxide, and calcium carbonate, targeting industries including automotive, aerospace, electronics, aluminum alloying, and steelmaking with long-term offtake contracts planned for U.S. distributors. The company operates its flagship 1,000 tonne per annum demonstration plant at Hazelwood North in Victoria's Latrobe Valley, which commenced production of magnesium oxide in September 2025 and targets full magnesium metal commissioning in Q1 2026, while advancing a 10,000 tpa commercial plant for H2 2027 at the same site and a 100,000 tpa mega plant in Sarawak, Malaysia via wholly-owned subsidiary Latrobe Magnesium Sarawak Sdn Bhd following a pre-feasibility study with Bechtel. Recent developments include a A$10 million equity raising in October 2025 to complete demonstration plant commissioning and fund initial operations, a $122 million financing offer from the U.S. Export-Import Bank as part of Australia-U.S. critical minerals commitments, and production of the world's first magnesium oxide batch from fly ash, de-risking the process ahead of commercial scale-up.