MagAlloy secures funding deal for Congo magnesium deposit

CANADA'S Magnesium Alloy Corp has moved a step closer to development of its wholly owned Kouilou magnesium project in the Republic of Congo after signing a financing framework agreement with Amphora Group Holding Luxembourg.

Under the agreement, MagAlloy will form two Luxembourg-based joint venture companies, Magnesium Alloy Holding and Mag-Energy Holding, to direct the development of Kouilou and the associated energy