Galaxy Resources Limited (ASX:GXY) Commences Mining At Mt Cattlin Spodumene Project Ahead Of Schedule
Perth, Mar 5, 2010 AEST (ABN Newswire) - Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF) is pleased to announce that the Company has commenced pre-strip mining at its Mt Cattlin Spodumene Project ahead of schedule.
Galaxy Resources Managing Director, Mr Iggy Tan, said a four month pre-strip mining period was on track and would guarantee supply of run of mine ore for the commissioning of the Mt Cattlin processing plant during the third quarter of 2010.
"Both the Company and the mining contractor, Orionstone Pty Ltd (Orionstone) have worked diligently to successfully implement all elements of a 'Business Readiness Plan ' and allow mining to commence in a timely manner," he said.
"We have been particularly pleased with the ability of Orionstone to quickly mobilise key mining equipment which is a major reason for the pre-strip commencing ahead of schedule."
Orionstone's mining fleet at the Mt Cattlin Project comprises a Hitachi 1800 excavator, four Caterpillar 777D dump trucks, a Caterpillar D10 dozer and other ancillary equipment as well as plant operators and maintenance staff.
"The Mt Cattlin workforce will deliver significant economic benefits to the south east coastal region," Mr Tan said.
"By April, the workforce is expected to grow to approximately 150 which will include a major proportion from Ravensthorpe and surrounding areas."
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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