Perth, 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 Resources Limited (ASX:GXY) is an Australian-based integrated lithium mining, chemicals and battery company listed on the Australian Securities Exchange and is a S&P/ASX 300 Index Company. 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 produce 137,000 tpa of spodumene concentrate and 56,000 lbs per annum of contained tantalum. The concentrated spodumene is shipped to Galaxy's wholly-owned Lithium Carbonate Plant in China's Jiangsu province. Once complete, the Jiangsu plant 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 for a lithium-ion battery plant, to produce 350,000 battery packs per annum for the electric bike (e-bike) market. The Company also has a farm in agreement with TSX-listed Lithium One Inc to acquire up to 70% of the James Bay Lithium Pegmatite Project in Quebec, Canada.
Lithium compounds are used in the manufacture of ceramics, glass, electronics and are an 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.
Galaxy Resources Limited
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