Galaxy Resources Limited ("Galaxy") is an Australian-based global lithium company with lithium production facilities, hard rock mines and brine assets in Australia, China, Canada and Argentina. The Company is an integrated lithium mining and chemicals company listed on the Australian Securities Exchange (Code: GXY) and is a member of the S&P/ASX 300 index.
Galaxy wholly owns the Mt Cattlin Project near Ravensthorpe in Western Australia where it mines lithium pegmatite ore and processes it on site to produce a spodumene concentrate and tantalum by-product. At full capacity, Galaxy will process 137,000 tpa of spodumene concentrate which will feed the Company's wholly-owned Jiangsu Lithium Carbonate Plant in China's Jiangsu province. The Jiangsu plant has commenced production and will produce 17,000 tpa of battery grade lithium carbonate, the largest producer in the Asia Pacific region and the fourth largest in the world.
Galaxy is also advancing plans to develop the Sal de Vida (70%) lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet) which is currently the source of 60% of global lithium production. Sal de Vida has excellent promise as a future low cost brine mine and lithium carbonate processing facility.
The Company also owns the James Bay (100%) Lithium Pegmatite Project in Quebec, Canada.
Lithium compounds are used in the manufacture of ceramics, glass, electronics and are essential cathode material for long life lithium-ion batteries used to power e-bikes and hybrid and electric vehicles. Galaxy is bullish about the global lithium demand outlook and is positioning itself to achieve its goal of being involved in every step of the lithium supply chain.
Due to excellent performance at Mt Cattlin and the different start up profile of Jiangsu, spodumene inventory required ahead of the lithium carbonate plant has built up to approximately 12 months feedstock. Consequently, production from Mt Cattlin was temporarily paused from the end of July 2012 until spodumene inventory levels are re-establised to regular levels of between two and three months of feedstock.
Galaxy Jiangsu Lithium Carbonate Plant in China |
