Main point in magnesium machining is the ignition risk. As I know, there are not too many experimental works related with magnesium. However, there are some of them (turning) that can be of your interest. Nowadays, I'm studying magnesium intermittent turning..

Most studies machining magnesium are related to the processes of drilling and tapping. Magnesium parts in the automotive industry, such as engine cylinder heads are just drilled and threaded. There are few industrial components using the turning process, but the process has a small application. As commented by Diego Carou, beware the risk of ignition and always has his hand a fire extinguisher with a specific product to avoid risk of fire.

In addition to the comments by Lincoln Brandão, it is also important to take into account that magnesium has a high reactivity with water to form hydrogen. Thus, it is usually recommended to avoid the use of water-based coolants.

Machining of magnesium has limited scope as suggested by Lincoin and diego it has ignition problem [machining with dry condition is ok] however go with proper guidance on safety related issues.

The application field for machining studies by using magnesium is limited. As discussed earlier, it can have minimal application when machining is used.

I think that magnesium alloys have very interesting in relation about "light design techniques". Cars uses some parts makes in magnesium.

The risk in machining magnesium alloys is ignition.

Another possible fiel for study is the casting.

Mg alloys are finding many applications. Machining is one of the important critaria. You can make use of it.