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Perth, Dec 11, 2009 (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.
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.
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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.
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