Step 1: Understanding ribosome structure.
Ribosomes are composed of rRNA and proteins and consist of two subunits.
Step 2: Role of magnesium ions.
Magnesium ions (Mg$^{2+}$) help maintain ribosomal structure by binding the two subunits together.
Step 3: Importance in protein synthesis.
Without Mg$^{2+}$, ribosomal subunits dissociate and protein synthesis cannot occur.
Step 4: Conclusion.
Therefore, magnesium is the essential binding agent in ribosomes.