Galaxy Resources Limited (ASX:GXY) Construction Progresses At Mt Cattlin Spodumene Project
Perth, Dec 22, 2009 AEST (ABN Newswire) - Galaxy Resources Limited (ASX:GXY) (PINK:GALXF) today announced that construction of the processing plant at the Mt Cattlin Spodumene Project near Ravensthorpe, Western Australia is progressing on schedule.
Earthworks at the Mt Cattlin site commenced on 12 November and are being carried out by Esperance based Martin's Mining and Civil. Earthworks have been completed over a large percentage of the site, with approximately 70% of the total volume now removed and handover to the concrete contractor achieved. Construction of the run of mine (ROM) stockpile is also well advanced using material from the plant site earthworks and will be completed to final design when mining commences in early March 2010.
Construction of the new site access road from the Lake King road to the west of the site is also well advanced having been awarded to Roadtech Constructions in early December. Completion of the main access road including bitumen sealing is expected in late January.
Mobilisation of the concrete contractor S & N Constructions commenced on 4 December and the first major concrete pour which was the base of the fine ore bin tunnel occurred on 19 December.
A number of other major contracts were awarded in recent days and are expected to commence on 4 January 2010. These include the mine and maintenance offices which were awarded to local Ravensthorpe company R & L Constructions, the mine workshop to S & N Constructions and the power station supply contract which was awarded to the Contract Power Group of Companies. Other major contracts to be awarded in the new year include the mining and laboratory contracts as well as the structural and platework contracts.
Procurement of all the major long lead equipment items has been completed and the balance of the procurement process will be complete by the end of January 2010.
Galaxy Resources Managing Director, Mr Iggy Tan, said that the Company is very pleased with the construction progress to date, particularly the amount of local services and contractors used during the earthworks and construction period.
"The recruitment of the operating team is continuing to ramp up ahead of the commencement of pre-strip mining at the Dowling Pit which is scheduled for March 2010," Mr Tan said.
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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