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News & Major Developments

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MFE completes its large scale industrial test audited by DMT (TÜV Nord), May 2024

MFE has completed the last two steps of its industrial test, the reduction and the refining. The results including energy consumption and material balance are still being evaluated but first figures are extremely encouraging. Due to the high-quality dolomite feedstock, the Crown Mg produced is showing a 99.96% purity.  DMT’s specialist metallurgic engineer observed all steps of the industrial test. MFE will receive an audit report from DMT, as well as a very comprehensive test report from LGE / ZRI and several tons of Mg and by-products (PCC, Al-Mg-Spinel / Al-Oxide) for further evaluation and discussions with potential clients. MFE’s proud CTO received the first Mg-ingot produced from Kupres dolomite (photo).

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MFE starts planning of own wind park to power its future Mg production, April 2024

One of MFE’s larger shareholders is an experienced wind park developer active in several Balkan countries. With the help of this investor and a very supportive municipality, MFE has started the planning of an own wind park to power MFE’s Mg-production facility medium term. A suitable plot of land has already been identified. The wind park envisages eight wind turbines with a total capacity of c. 57 MW generating electricity that is transferred to MFE’s Mg production facility via a direct grid cable. MFE’s wind park project aims to significantly reduce MFE’s energy dependence and guarantee the lowest possible electricity price for MFE’s future Mg production.

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MFE agrees cooperation with ITÜ, Istanbul Technical University, April 2024

Earlier this year, MFE agreed a cooperation with ITÜ (Technical University of Istanbul) to validate the results of its industrial test in China and to form a long-standing partnership with a highly reputable and competent scientific organisation that is geographically close to MFE’s production location and interested in developing the Al-thermic technology further in the coming years.

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Media coverage of MFE on Innovation News Network, February 2024

Innovation News Network ( has increased its coverage of Magnesium as part of its focus on Critical Raw Materials and technology which is critical for a speedy energy transition. MFE received a dedicated mentioning in several Innovation News Network articles and has now become a media partner of Innovation News Network.

Please click on the left hand side picture for a direct link to the full dedicated article on MFE.

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MFE’s pilot test advancing and confirming effectiveness of Al-thermic Process, February 2024

MFE’s industrial scale test using 40 mt of MFE’s own Kupres Dolomite in an Al-thermic pilot plant in China is now more than 50% complete and scheduled to be finalized within the next 6-8 weeks. Main goals of the test are to determine the exact configuration of MFE’s future Mg production plant and to confirm the favourable lab test results of August 2022. The pilot test steps completed to date - Calcination, Ca-Mg Separation and production of PCC (Precipitated Calcium Carbonate) as well as MgO enrichment - confirm the favourable 2022 lab test results and support MFE’s conviction that the Al-thermic process is the right way to a waste-free and competitive Mg production!

Photo (lhs): MgCO3 filterpress filtering enriched Magnesium Carbonate.

Photo (rhs): Resulting intermediate MgCO3 product.

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MFE commences industrial pilot test with its technology partner LGE / ZRI, November 2023

In early November MFE started an industrial scale pilot test with 40 mt of its Kupres Dolomite at LGE / ZRI’s fully operating al-thermic plant in China. The pilot test is meant to confirm last year's favourable lab test results and allow for an exact configuration of MFE’s future production plant. The first part of the test, the Dolomite calcination, was completed at the end of November and results were very much in line with the 2022 lab test results. Further tests involving Ca-Mg separation, Mg reduction and refining will be conducted over the next few months. (Click on right hand side picture to play the video).

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MFE completes construction planning for its 15kt Mg production plant, October 2023

In September MFE completed the construction planning together with its industrial construction partner ZGI d.o.o., a very experienced and leading local engineering firm. Completion of the construction plans constitutes an important and final step in MFE’s building and environmental permit application process which is expected to conclude in 1Q 2024. Plans are for an initial 15 kt p.a. Mg production facility, positioned on MFE’s own industrial site near but naturally sheltered from the local town of Kupres (Bosnia-Herzegovina). (Click on right hand side picture to play the video).

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MFE and the Mayor of Kupres host information event for MFE’s Magnesium project, Sep. 2023

On 14./15.9.2023 MFE and the Mayor of Kupres hosted a local information event for IMA (International Magnesium Association), representatives and political leaders of the EU, the German Government, public financial institutions, as well as local authorities from Kupres, Kanton 10 and the Federation. The event included a visit of the Dolomite mine, MFE’s future magnesium production site in Kupres, as well as several presentations on the main aspects and status of MFE’s project. MFE appreciated the broad attendance of about 20 very interested and motivated guests representing the above mentioned organisations and reflecting the different stakeholders’ interests in MFE’s project.

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Dolomit d.o.o. receives official exploration permit for c. 47.5 ha, August 2023

Dolomit d.o.o., MFE’s affiliated company (which is controlled by MFE shareholders) and supplier of Dolomite for MFE's future magnesium production, has received an official exploration permit for an area of c. 47.5 ha (117.4 acres) which is directly adjacent to the 9.5 ha (23.5 acres) for which Dolomit d.o.o. already owns very long dated mining rights. The estimated quantity of high quality Dolomite in this additional area will enlarge MFE’s future production capacity. MFE reckons that with the additional raw material it could run a production of 50.000 mt p.a. for well over 75 years.

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Independent Aluminothermic Technology Audit by DMT (TÜV NORD), June 2023

In June MFE’s CTO Ilhan Goknel visited LGI / ZRI to inspect the test facilities, visit Al-thermic plants in operation, and plan for MFE's pilot test to be conducted later this year. Ilhan was accompanied by the Principal Engineer Processing & Metallurgy / CS from DMT (TÜV NORD) who MFE had asked to act as independent auditor and inspect the present status of the Al-thermic process in China. The findings confirmed MFE’s conviction that the technology is fully developed and already being used in China at industrial scale (TRL = 8-9). A copy of the report is available in MFE’s data room and to parties that MFE has signed an NDA with.

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MFE prepares 40 mt Pilot Tests, June 2023

In 2022 MFE conducted various lab tests with LGE / ZRI in China.  The results were extremely positive and confirmed the suitability of the raw material for the Al-thermic process, the very high quality of the dolomite and the correspondingly high quality of the outputs: Magnesium as well as PCC (Precipitated Calcium Carbonate), Al-Mg-Spinel (76-78% Al2O3), and Dry Ice / liquid CO2.

More recently, MFE and LGE / ZRI agreed to conduct an industrial scale test at LGE / ZRI’s fully operating Al-thermic pilot plant using c. 40 mt of MFE’s own Kupres Dolomite . The comprehensive pilot test has been designed to confirm last year's lab test results and allow for the exact configuration of MFE’s future production plant. 

MFE identified by EIT as a strategically important CRM project, May 2023

On 15-17th May EIT RawMaterials and ERMA held their 5th European Raw Materials Summit. Representatives of MFE attended the event in Brussels. As part of the Summit, EIT released its Cluster 2 Report titled "Materials for Energy Storage and Conversion - A European Call for Action”. The report highlights the importance of certain CRMs for technologies that are critical to the EU’s change towards greater sustainable energy generation. MFE was identified as 1 of 55 European companies and 1 of only 3 magnesium projects relevant to ERMA’s investment pipeline and the successful execution of a European CRM strategy. For a copy of the report please click on the photo on the left.

LCA (Life Cycle Assessment) Study completed, April 2023

In 2H 2022 MFE commissioned a LCA Study with DLR Institute of Vehicle Concepts (Germany) to assess the overall CO2 impact of MFE’s future Mg and by-product production. The study has now been completed with extremely favourable results. In summary, the Al-thermic Process selected by MFE for its future production will generate Mg and by-products with a CO2 emission of less than 2.5 mt per 1 mt of Mg and c. 12 mt of by-products when pure Aluminium is used as reductant and less than 1 mt of CO2 if Al-scrap is used. This is the lowest CO2 emission level globally for any Mg production and compares very favourably with conventional productions which typically involve c. 20-25 mt of CO2 per mt of Mg.

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MFE completes the purchase of its production site in Kupres, BiH, April 2023

MFE has purchased 10 industrial land plots and agreed (but not yet notarised) the purchase of 4 further adjacent industrial plots with a total combined area of almost 77.000 m2. The site is spacious and will easily accommodate MFE’s planned facility with an initial magnesium production capacity of 15.000 mt p.a. The site is suitable for medium term expansion. It could accommodate a 30.000 mt p.a. Mg production facility and if planned carefully even a 50.000 mt p.a. Mg production facility. 

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Leading local engineering firm mandated for building permit application, March 2023

MFE has formally mandated ZGI, a leading BiH-based engineering company, for the site planning activities and the applications for both building and environmental permits. The two application processes are expected to be finalised by October 2023.

Foundation of MFE’s 100% subsidiary in BiH completed, February 2023

MFE has completed the foundation of its wholly-owned subsidiary in BiH, called BH Magnezij & Mineralid.o.o.; "BH Mag & Min" will own the production site, contract all local planning and construction services and is destined to ultimately act as the operating and client facing entity.

MFE receives favourable lab test results for its Kupres Dolomite, August 2022

MFE has conducted a comprehensive lab test with LGE / ZRI in China. The results were extremely positive and confirmed the suitability of the raw material for the Al-thermic process, the very high quality of the Dolomite and the correspondingly high quality of the outputs: Magnesium as well as PCC (Precipitated Calcium Carbonate), Al-Mg-Spinel (76-78% Al2O3), and Dry Ice / liquid CO2.

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