Florida Mountains - possible future site of a magnesium metal complex - Google Maps (Deming) – The dolomite-rich Florida Mountains just south of Deming could bring hundreds, if not thousands, of jobs to Luna County.
That’s because dolomite contains substantial amounts of magnesium oxide, which can be processed into magnesium metal. It’s a metal in growing demand among car makers and other heavy transportation manufacturers because of its light weight and greater-than-steel strength.
The Albuquerque Journal is reporting that the extensive dolomite deposits that rest on top of the Floridas could potentially supply up to 100 million tons of magnesium, encouraging a new company, American Magnesium LLC, to pursue construction of a quarry and magnesium processing complex at the Peru Mill Industrial Park just north of Deming.
David Tognoni, a geologist and general partner president at American Magnesium, said the Floridas contain enough dolomite to produce for over 100 years.
Reportedly, the company wants to invest $100 million in a production facility capable of processing 30,000 tons of magnesium metal annually for the domestic U.S. market, providing 500 jobs.
Tognoni said that depending on demand, it could expand to a $1 billion investment producing up to 300,000 tons annually with about 5,000 workers.
It also could produce 250,000 tons of Portland cement to start and up to 2.5 million tons when expanded because, once processed, dolomite breaks down into 10 percent magnesium, 10 percent dolomite and the other 80 percent is used to make cement.
Tognoni said they wouldn’t be building a mine, but rather a magnesium metal complex, because quarrying the dolomite is only about 10 percent of the operation. The other 90 percent, he said, is the high-tech magnesium complex, including value-added processing to turn it into magnesium sheet rolls, ingots and bars.
The company has completed a scoping study done by the TRU Group, a manufacturing industry consultant, and has been meeting this year with financial institutions, potential customers and state officials.
That’s because dolomite contains substantial amounts of magnesium oxide, which can be processed into magnesium metal. It’s a metal in growing demand among car makers and other heavy transportation manufacturers because of its light weight and greater-than-steel strength.
The Albuquerque Journal is reporting that the extensive dolomite deposits that rest on top of the Floridas could potentially supply up to 100 million tons of magnesium, encouraging a new company, American Magnesium LLC, to pursue construction of a quarry and magnesium processing complex at the Peru Mill Industrial Park just north of Deming.
David Tognoni, a geologist and general partner president at American Magnesium, said the Floridas contain enough dolomite to produce for over 100 years.
Reportedly, the company wants to invest $100 million in a production facility capable of processing 30,000 tons of magnesium metal annually for the domestic U.S. market, providing 500 jobs.
Tognoni said that depending on demand, it could expand to a $1 billion investment producing up to 300,000 tons annually with about 5,000 workers.
It also could produce 250,000 tons of Portland cement to start and up to 2.5 million tons when expanded because, once processed, dolomite breaks down into 10 percent magnesium, 10 percent dolomite and the other 80 percent is used to make cement.
Tognoni said they wouldn’t be building a mine, but rather a magnesium metal complex, because quarrying the dolomite is only about 10 percent of the operation. The other 90 percent, he said, is the high-tech magnesium complex, including value-added processing to turn it into magnesium sheet rolls, ingots and bars.
The company has completed a scoping study done by the TRU Group, a manufacturing industry consultant, and has been meeting this year with financial institutions, potential customers and state officials.
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