Leigh Creek Magnesite Pty Ltd
The plan was not realised for a variety of factors key being falling magnesium metals prices due to Chinese dumping cheap 'Pigeon Process' magnesium onto the market and high projected capital and operating costs. MDL elected to relinquish its exploration licences but retained ownership over the small Myrtle Springs magnesite mine.
During 2011 Leigh Creek Magnesite Pty Ltd identified that the ground formerly owned by MDL had become available for mining and applied for and was eventually granted two exploration licences over the southern portion of MDL's magnesite deposits.
News
Archer Exploration Limited's (ASX:AXE) exploration activities during the six months ended 31 December 2014 focused on exploration of the Group's Eyre Peninsula Graphite Project which includes the newly acquired EL4662 Waddikee tenement, the Leigh Creek Magnesite deposits and the Spring Creek copper prospect.
Cryptocrystalline magnesite is a unique and scarce mineral accounting for only 7% of total global magnesite resources. The Leigh Creek magnesite deposits account for almost 50% of the world's known cryptocrystalline magnesite resources.
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