AMC to receive $100 million government loan guarantee

THE Australian government today boosted its support for Australian Magnesium Corporation's Stanwell magnesium plant, agreeing to guarantee a $100 million loan for the project, which stalled last month due to a lack of investor interest.

The extra funding is expected to allow AMC to continue with its $682 million equity raising, which fell $100 million short last month after institutions, especially from overseas, greeted the float