A bioabsorbable implant including an elongated metallic element having an alloy including more than about 70% by weight magnesium and about 2-20% by weight lithium, and being substantially free of rare earth metals, the elongated metallic element defining at least a portion of the bioabsorbable implant, wherein the alloy defines a columnar microstructure including grains having an average grain length of at least about 1 mm, and an average grain diameter of less than about 3 mm.