Magnum Mining and Exploration Limited has completed its first biochar pig iron test using 100% biochar. The SGS test result shows that our green pig iron is a premium feed for Electric Arc Furnace (EAF) steel making. that it is on track to become a leading producer of green pig iron products for sales to US and export markets at premium prices. extensive test work was completed by Beijing Shougang International Engineering Technology Company (BSIET) (see here - bisect.com) at its pilot plant in China and included: production of a dry iron ore concentrate at 63%Fe (SGS tested); reduction in the rotary kiln using 100% Biochar to produce Direct Reduction Iron (DRI) and melting the DRI in an Electric Furnace to produce the end product, green pig iron (SGS tested). SGS China tested and has confirmed the quality of the iron ore concentrate and green pig iron produced. that Magnum green pig iron with low silica & high carbon offers premium value in use for EAF steel makers. the process of dry concentration with minimal water consumption compared to a `wet' concentrate and the utilisation of Biomass/Biochar in a `carbon neutral' process are also significant contributions to a healthier environment when compared to other steel making processes. this success is an important step in the Company's strategy of moving up the value chain to green pig iron with a significant Carbon Credit premium. Magnum with its wholly owned low-cost iron ore resource is now well positioned to take advantage of the rapidly increasing demand in high value green pig iron. There is a $400 per ton value difference between iron ore & pig iron, with iron ore prices currently around US$100/t delivered China and pig iron delivered into the US is around $550/t. the US steel industry is rapidly expanding with over 80% using EAFs. Relevantly, the Company advises that a global shortage of quality steel scrap and pig iron supply is forecasted and considers that Magnum is well placed to supply quality pig iron both domestically and internationally.