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Galaxy Resources Limited (ASX:GXY) Secures Works Approval For Construction Of Minerals Plant At Mt Cattlin Lithium Project, Western Australia
Thursday June 25, 10:40 AM
Perth, Australia, June 25, 2009 - (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (ASX:GXY) today announced that it has secured the Works Approval and License to Operate from the Department of Environment and Conservation (DEC) to commence construction of the minerals processing plant at its Mt Cattlin Lithium Project, near Ravensthorpe, Western Australia.
The Works Approval allows Galaxy to commence the earthworks and construction of the minerals processing plant with the associated site infrastructure at Ravensthorpe. The License to Operate issued by the DEC is the approval required for the Company to operate the proposed mineral beneficiation and processing facility.
Managing Director, Iggy Tan, said that this is a very significant milestone for the project. "The only outstanding approval for the commencement of the project is the Mining Approval from the Department of Mines and Petroleum (DoMP) to begin prestrip and mining. The mining approval process is well advanced and Galaxy expects to obtain final approval within the next month".
About Galaxy Resources Limited:
Galaxy is an industrial minerals company focusing on lithium and tantalum production. Galaxy has completed a definitive feasibility study (DFS) which suggests the Mt Cattlin Lithium / Tantalum project (Ravensthorpe, Western Australia) is commercially viable based on a processing rate of 1 million tonnes per annum over a 15 year mine life. The Company is planning to commence the development of the mine and the construction of the mineral processing plant in Q3 2009 with first concentrate production scheduled for Q3, 2010.
The company has also commenced a pre feasibility study into the value adding downstream production of lithium carbonate (Li2CO3). The company plans to establish a 17,000 tpa lithium carbonate plant in China due to lower associated capital and operating costs, as well as being close to the strategic growing battery markets in Asia.
Lithium concentrate and lithium carbonate raw materials are currently in short supply and face high future demand growth due to advances in long life batteries and sophisticated electronics in hybrid and electric vehicles, mobile phones and computers.
Contact:
Iggy Tan Managing Director Tel: +61-8-9215-1700
Source:
Galaxy Resources Limited
Copyright (C) 2009 ABN Newswire. All rights reserved.
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