08:26 AEST Mar 16, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
Galaxy Resources Limited (ASX: GXY) (PINK: GALXF) is pleased to announce it has delivered the first shipment of tantalum concentrate from its Mt Cattlin mine in Western Australia, under its five-year sales agreement with Global Advanced Metals Pty Ltd ('GAM'). The shipment of 28 tonnes had an average grade of 2.3% tantalum pentoxide.
While Galaxy is focused on mining and processing of lithium ore at Mt Cattlin, tantalum ore is coincidently mined during that process. The tantalum ore is subsequently processed into tantalum concentrate by-product.
Galaxy Managing Director, Iggy Tan, advised that the Company was pleased to record its first sale of tantalum concentrate as the ramp up of Mt Cattlin progresses.
'The Company has also secured the MV Ocean Flower for its first shipment of spodumene to China for the end of March 2011'.
About Galaxy Resources Limited:
Galaxy Resources Limited (ASX: GXY) (PINK: GALXF) is an emerging mining and chemical company focusing on lithium and tantalum production. Galaxy is at an advanced stage of developing its Mt Cattlin Lithium Project (hard rock spodumene) in Ravensthorpe, Western Australia. The Project encompasses a mine and minerals plant which will produce 137,000 tpa of 6% Li2O spodumene concentrate. Galaxy intends to add value to the Mt Cattlin Project by establishing its own downstream lithium processing facilities in China.
The Company is finalising plans to establish a lithium carbonate chemical facility in Jiangsu Province, producing 17,000 tpa of lithium carbonate.
Contact:
Iggy Tan
Managing Director
Galaxy Resources Limited
Tel: +61-8-9215-1700
Email: ir@galaxylithium.com
http://www.galaxylithium.com
