# Marubeni invests C$16.7 million in Alliance Magnesium

Alliance Magnesium Inc. announced that Marubeni Corporation will invest C$16.7 million in common shares to finance the commercial production demonstration phase (phase 1) of its magnesium production project in Danville, Quebec. Construction of phase 1 will begin in 2020.

- Type: Investment
- Announced: 2019-12-13
- Where: Danville, Quebec, Canada
- Value: $12.6M (16.7M CAD)
- Starts operating: 2020
- Status: announced
- Products: primary magnesium, secondary magnesium
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Marubeni](https://endata.com/companies/695.md) (investor)
- [Alliance Magnesium](https://endata.com/companies/28603.md) (partner)

## Sources

- [newswire.ca](https://www.newswire.ca/fr/news-releases/new-strategic-partner-marubeni-joins-alliance-magnesium-889582182.html), 2019-12-13: "We are honored to have Marubeni join our major industrial project."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.