Galaxy Resources Limited (ASX:GXY) Wins Sustainable Energy Award For Solar Technology
Perth, Mar 25, 2011 AEST (ABN Newswire) - Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF) is pleased to announce that, together with Swan Energy Pty Ltd ("Swan Energy"), it was awarded the Energy Generation and Distribution Award by the Sustainability Energy Association of Australia. The award ceremony, recognising sustainable energy excellence and innovation, was held in Perth last night.
Galaxy received the award for the installation of state-of-the-art solar tracking technology at its Mt Cattlin project near Ravensthorpe in Western Australia.
Mt Cattlin is the first mine site in Australia to have real-time solar tracking panels as part of its power generating requirements. The solar tracking feature means the solar panels are able to follow the sun in all directions to maximise the power generated and provides 15% more power than a single axis systems.
The Company has 14 giant solar trackers and 2 wind turbines in operation at its Mt Cattlin lithium mine and processing plant, which together generate 226 MWh per year of renewable energy.
The panels and turbine system was designed by Australian renewable energy suppliers Swan Energy.
The wind and solar hybrid system supplements power from Galaxy's 5MW diesel generator, which accounts for, on average, about a sixth of the mine site's daily power. This system also promotes savings in CO2 emissions to the tune of 200 tonnes per year.
Galaxy Resources Managing Director, Iggy Tan, said: "The Company is honoured to be recognised for its renewable energy programme and to be a part of the push to get the mining industry to use more renewable energy for its power requirements."
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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