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1 . EPCM Latrobe * Magnesium ABN 52 009 173 611 QUARTERLY ACTIVITIES REPORT 31 March 2021 LATROBE MAGNESIUM PROJECT LMG has appointed Mincore Pty Ltd as its Engineering Procurement Construction Manager to undertake the development of its 3,000 tpa magnesium plant at 320 Tramway Road Hazelwood North . To date Mincore have concluded their value engineering exercise , further test work so that the process design can be frozen , more detailed engineering and the tendering of the early works for the site . 2 . Yallourn Closure On 10 March 2021 , Energy Australia announced that they would be closing its Yallourn Power Station in mid 2028 . LMG has an ash supply agreement with Yallourn to supply LMG's 3,000 tpa initial plant for a period of 10 years . LMG believes fly ash can be mined from Yallourn's current ash repository and the fly ash to be produced over the next seven years to provide sufficient feedstock to supply a 30,000 tpa magnesium plant for a period of 20 years . New agreements will need to be entered into between LMG and Energy Australia before the expansion of LMG's plant can take place . During the next 20 years LMG is hopeful that the Hazelwood HAP4 ash dam may become available to be processed through their expanded plant . Should this not become available LMG has identified an alternative supply of feedstock that could be processed by its expanded plant . 3. Tramway Road Lease On 1 April 2021 , LMG exercised its option to lease 320 Tramway Road from DG & J Di Fabrizio Steel Fabrications Pty Ltd for a period of 3 years . During this lease period LMG has the option to acquire the property at a fixed price . LMG thanks the Di Fabrizio family for their patience and support during the time it required to develop its project . Suite 307 , 20 Barrack Street , Sydney , NSW 2000 Postal Address : GPO Box 4729 , Sydney , NSW 2001 Phone : +61 ( 0 ) 2 8097 0250 Email : Img@latrobemagnesium.com