Galaxy Resources Limited (ASX:GXY) Awards Mt Cattlin Mining Contract To Orionstone Pty Ltd
Perth, Jan 5, 2010 AEST (ABN Newswire) - Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF), today announced it has awarded the Mt Cattlin mining contract to Orionstone Pty Ltd (Orionstone).
Orionstone is a provider of quality mining equipment and services that was established in the Eastern Goldfields 17 years ago and currently has fleets of equipment operating around Australia. Former clients of the company include Norilsk Nickel, Harmony Gold, Newcrest Mining, Haddington and Panoramic Resources.
At the Mt Cattlin Spodumene Project, Orionstone will provide a Hitachi 1800 excavator, Caterpillar 777D dump trucks, Cat D9 dozer and other ancillary equipment as well as plant operators and maintenance staff.
The drill and blast component of the mining contract will be delivered by an Orionstone subcontractor, Total Drilling Services Pty Ltd who has also been operating in the Goldfields region for many years.
Mining is expected to commence in early April 2010 with a four month pre-strip period in order to guarantee supply of run of mine ore for the commissioning of the process plant in 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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