Galaxy Resources Limited Stock Market Press Releases and Company Profile
Galaxy Resources (ASX:GXY) Receives Safety and Energy Approvals For Jiangsu Lithium Carbonate Plant
Galaxy Resources (ASX:GXY) Receives Safety and Energy Approvals For Jiangsu Lithium Carbonate Plant

Perth, Jan 7, 2010 AEST (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (googlechartASX:GXY) (googlechartPINK:GALXF), announced it has received the safety and energy saving approvals for its Jiangsu Lithium Carbonate Plant. Both approvals were granted by the Suzhou Municipal Administration of Work Safety. These approvals are important steps toward full project approval for the Company's lithium carbonate plant.

The Nanjing University of Technology was engaged as the third party consultant to prepare and submit reports on how Galaxy intended to manage the safety and energy savings aspects of the projects. . An "Expert Panel" review of the draft Safety Assessment report was conducted and the final report was submitted to the Suzhou Municipal Administration of Work Safety.

The Safety and the Energy Approvals are pre-requisites for the project application (See figure 1).

The Project Application Report (PAR) will be submitted this week and based on the anticipation of prompt assessments, the business licence for Galaxy Lithium (Jiangsu) Company Limited should be granted late January 2010.

Galaxy Resources Managing Director, Mr Iggy Tan, said that the Company welcomed the safety and energy saving approvals for the Jiangsu project and looked forward to promptly meeting the next component of the approvals process.

"The approval process is not delaying work on the site as preparation works for the Jiangsu Lithium Carbonate Plant in the Zhangjiagang Yangtze River International Chemical Industrial Park is well underway," Mr Tan said.

"The work involves clearing the vegetation from the site in preparation for back-filling, levelling and compaction by the Zhangjiagang Free Trade Zone (ZFTZ) authorities.

"Once this is completed, Galaxy has permission from the ZFTZ authorities to commence the plant foundation piling in January 2010.

"The work commenced to date, coupled with the project approvals process for the Jiangsu Plant means that the Company is on track to achieve first production of lithium carbonate in Q4 2010," Mr Tan said.

About Galaxy Resources Limited

Galaxy Resources ASX:GXYGalaxy 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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Contact

Iggy Tan
Managing Director
TEL: +61-8-9215-1700
MOB: +61-419-046-397


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