Mt Cattlin Exceeds Design Output
Sydney, Mar 28, 2012 AEST (ABN Newswire) - Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF) is pleased to advise that the ramp-up of its whollyowned Mt Cattlin project in Western Australia is progressing well, with the mine and the processing plant consistently exceeding design throughput levels during the second half of March 2012.
Highlights
- Mt Cattlin plant and mine exceeds design capacity in last fortnight
- Galaxy reports above-design plant throughput during the second half of March 2012
- Mt Cattlin ramp-up progressing in line with expectations
- Preparations underway to ship next spodumene consignment to China in April 2012
Galaxy said the crushing and dense media separation (DMS) plants performed well above design output rates during the period. In the last 12 months, Galaxy has made various process improvements to both circuits, which have enhanced the plant stability, utilisation times, throughput rates, and recovery. At the mine, the mining shift from Pit 1A (initial start-up) to Pit 1B has helped with presentation of a more uniform ore character. At full capacity, Mt Cattlin will mine 1 million tonnes of ore and produce 137,000 tonnes of spodumene concentrate per annum. The spodumene concentrate will be shipped to the Company's wholly-owned Jiansgu Lithium Carbonate facility in China.
Galaxy Managing Director, Iggy Tan, said achieving above-design mine and processing rates marked an important milestone: "The above-design performance at the plant and mine means we are making good progress towards reaching our full capacity targets at Mt Cattlin. It is also a direct result of the hard work of the Mt Cattlin team. We hope to continue production and processing at current design rates, but are pleased to know the plant has been able to exceed those levels," Mr Tan said.
Galaxy said it was preparing to load a 27,000 tonne consignment of spodumene concentrate to ship to third parties in China in late April 2012. This will represent the first sizeable revenue flow for Galaxy since start-up at Mt Cattlin.
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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