Perth, Jan 5, 2010 (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) 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.
Contact
Iggy Tan Managing Director Tel: +61-8-9215-1700 Mob: +61-419-046-397
ASX:GXY) (
Galaxy Resources Limited
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