Galaxy Resources Limited (ASX:GXY) Awards Hatch Consulting Shanghai The Jiangsu Plant EPCM Contract
Perth, Dec 11, 2009 AEST (ABN Newswire) - Galaxy Resources Limited (ASX:GXY)(PINK:GALXF) today announced it has awarded the EPCM contract to design and build the Jiangsu Lithium Carbonate plant to Hatch Consulting Shanghai (Hatch).
The contract appoints Hatch to provide the engineering services, procurement and manage the construction of the Jiangsu Battery Grade Lithium Carbonate Plant in 2010 on the site in the Zhangjiagang Yangtze River International Chemical Industrial Park.
The contract strengthens the association between Galaxy and Hatch who prepared the Definitive Feasibility Study for the Jiangsu Plant and their appointment as EPCM contractor will provide a seamless transition into the project delivery phase.
Hatch delivered the comprehensive project DFS report for Galaxy on time and within budget earlier this year and has already commenced the process design and preliminary site preparation works at Jiangsu.
Hatch has coordinated the application for the business license which is due to be awarded shortly.
The Company is on track to commence construction of the plant on schedule in Q1 2010 with piling and foundations. This schedule is in accordance with the planned plant start-up in Q4 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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