5.2 C
Wednesday, December 6, 2023

West High Yield Exec Says More Secure Magnesium Supply Chain Key to Decarbonization

Manufacturers and governments are increasingly looking to secure alternative magnesium supply as geopolitical events raise concerns about the potential instability of current supply chains.

“Magnesium is one of the identified critical minerals, or metals that you may have read about in recent news the last couple of years, and it’s very much come to the forefront with all of the geopolitical froth going on in the world,” said Barry Baim, director and corporate secretary at West High Yield Resources (TSXV:WHY), which is currently developing its advanced-stage Record Ridge magnesium project in BC.

“Eighty-five percent of the critical mineral is produced in China, another 8 to 10 percent in Russia. So given what’s going on today in the world, many manufacturers and countries are looking for secure supplies,” he added.

Magnesium has a wide range of applications, including in pharmaceuticals, healthcare and biomedicine, as well as in the transportation sector. The critical mineral is also being developed for use in magnesium-based batteries, as an alternative for current battery chemistry.

“Magnesium is a critical mineral that is key to this whole net zero by 2050, the decarbonization of our planet, and it underpins modern society,” Baim said.

Watch the full interview with Barry Baim, corporate secretary and director at West High Yield Resources.

Disclaimer: This interview is sponsored by West High Yield Resources (TSXV:WHY). This interview provides information which was sourced by the Investing News Network (INN) and approved by West High Yield Resources in order to help investors learn more about the company. West High Yield Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with West High Yield Resources and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

Source link

Related Articles

Latest Articles