Galaxy Resources Limited (ASX:GXY) Awards The Mt Cattlin EPCM Contract Moving It Firmly Into Development Phase
Perth, Aug 4, 2009 AEST (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (ASX:GXY) today announced it has awarded the Engineering, Procurement and Construction Management (EPCM) contract for its minerals processing plant at Mt Cattlin in Ravensthorpe to the DRA Pacific, Mintrex, BEC Engineering Joint Venture (DMB JV).
The EPCM contract includes construction of a crusher and concentrator process plant at Ravensthorpe capable of producing 137,000 tonnes of spodumene concentrate per year.
Both Mintrex and DRA Pacific have strong track records in the field of mineral processing, and project delivery, stretching over the past 25 years. Mintrex has specialist strengths in crushing and materials handling, while DRA has significant capability in the processing and concentrating of most ores via Dense Medium Separation (DMS), Gravity and Mill Concentrators.
The Joint Venture will utilise the strengths of BEC Engineering for the electrical and instrumentation design and construction management.
Galaxy has authorised the DMBJV to commence the early detailed engineering design and procurement phase.
Managing Director, Iggy Tan said that the Company is confident in the DMB JV's ability to successfully deliver the minerals processing plant for the Mt Cattlin lithium project.
"We are pleased to have DRA Pacific, Mintrex and BEC Engineering involved in the construction of the Mt Cattlin processing plant," said Mr Tan.
"Their combined knowledge and experience in developing successful minerals processing projects make them ideal candidates to construct the project.
"The award of the EPCM contract moves the Mt Cattlin project firmly into development phase and on track to achieve first production of spodumene concentrate by Q3 2010."
About Galaxy Resources Limited
Galaxy Resources Limited (ASX:GXY) (OTCMKTS:GALXF) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.
Galaxy is advancing plans to develop the Sal de Vida 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 potential as a low cost brine-based lithium carbonate production facility.
Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.
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