First lithium shipment for Galaxy Resources kicks off 2017 surge
2017 represents a new opportunity for Western Australia to firmly strengthen its position as the world’s lithium mining capital.
This is only reinforced further with the news that Galaxy Resources has officially shipped its first shipment from Mt Cattlin Operation at the Esperance Port, around 10,000 tonnes of lithium concentrate, valued at around $US6million.
What do we know about Galaxy Resources?
Galaxy Resources Limited is a lithium-focused resources company, with operations across Australia, Canada and Argentina.
The Company is headed up by three directors:
- Martin Rowley, Independent Non-Executive Chairman. A co-founder of First Quantum Minerals and currently Executive Director, Business Development, Rowley was also a non-executive Chairman and director of Lithium One, which was acquired by Galaxy in 2012.
- Anthony Tse, Managing Director. Tse has over 20 years of corporate experience working with TOM Online, China Entertainment Television and CSN Corp. Tse is a Fellow of the Hong Kong Institute of Directors (HKIoD) and a member of the Hong Kong Mining Investment Professionals Association (HKMIPA).
- Jian-Nan Zhang, Non-Executive Director. Deputy General Manager of Fengli Group (Australia) Pty Ltd and a shareholder in the Company. He was previously Managing Director of Winly Trade & Investment in China.
Galaxy Resources has three flagship projects, the Sal de Vida deposit, Mt Cattlin and the James Bay project.
Sal De Vida is one of the world’s largest and highest quality undeveloped lithium brine deposits with significant expansion potential. The project is located in north-west Argentina in the rather aptly named “Lithium Triangle”. The Lithium Triangle is home to more than 60 percent of the world’s annual production of lithium.
The Mt Cattlin spodumene project, located near Ravensthorpe, Western Australia, consists of open pit mining and processing. At full capacity, ore could be processed at a rate of one million tonnes per annum (tpa) with lithium oxide concentrate production of 137,000 tpa and 56,000 pounds (lbs) per annum of contained tantalum (Ta2O5).
The James Bay lithium pegmatite Project is located in Quebec, Canada. The project contains indicated resources of 11.75 million tonnes grading at 1.30% Li2O and inferred resources of 10.47mt grading at 1.20% Li2O. The James Bay deposit occurs at surface and resource modelling indicates that the resource is amenable to open pit extraction. There is excellent potential to increase the resources through additional delineation of the pegmatite dykes along strike and at depth and potential to increase grade through infill drilling.
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