Galaxy Resources Limited (ASX:GXY) Receives Construction Permit For Jiangsu Lithium Carbonate Plant
Perth, June 4, 2010 AEST (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF) is pleased to advise that it has received the Construction Permit for the Jiangsu Lithium Carbonate Plant from the Zhangjiagang (ZJG) authorities.
The permit was granted by the Jiangsu Province Administration Bureau for Industry and Commerce and represents the final key milestone of the approvals process for the Company's lithium carbonate project.
Galaxy Resources Managing Director, Mr Iggy Tan said the approvals process did not delay work on the project as the Company was granted permission from the ZJG authorities to commence bulk earthworks, roadworks, plant foundation piling, site utilities and concrete padding.
"There is still site preparatory work to complete before full construction activity commences on site," Mr Tan said.
"Our excellent relationship with the Zhangjiagang authorities and the project approval management expertise of Hatch China are some of the key reasons for the timely issue of the Construction Permit."
For the complete Galaxy Resources announcement including figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/63020-ASX-GXY-493409.pdf
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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