Appoints Sal De Vida Site Director
Perth, Oct 18, 2012 AEST (ABN Newswire) - Lithium producer Galaxy Resources Ltd (
ASX:GXY) is pleased to announce the appointment of Mr Daniel Chavez Diaz as Site Director of the Sal de Vida lithium and potash brine project ("Sal de Vida" or "the Project") in Argentina.
Mr Chavez Diaz is a chemical engineer and highly experienced management executive who has spent the last 20 years working for lithium giant FMC Corporation ("FMC"). Since 2007, Mr Chavez Diaz has been President of FMC subsidiary Minera del Altiplano S.A., and has been responsible for overseeing FMC's lithium production facilities in Argentina.
Since 2007, he has also been General Manager of FMC's for Fenix lithium operation in the Salar del Hombre Muerto. Fenix project includes evaporation ponds, lithium chloride and carbonate plants and shares the same salar (salt pan) as Sal de Vida. Other previous management roles at Fenix project include Operations Director, Plant Manager and Production Manager. He holds a chemical engineering degree from Universidad Nacional de Salta, and a Master of Business Administration degree, from prestigious Argentine business school IAE, and is currently the President of Unión Industrial de Salta.
Galaxy's Managing Director, Iggy Tan, said Mr Chavez Diaz will lead the Sal de Vida team in developing Galaxy's planned lithium brine operation and lithium carbonate plant.
"We are very pleased to secure someone with Mr Chavez Diaz's lithium industry experience and, most importantly, incountry experience. Mr Chavez Diaz has many years of experience liaising with provincial and federal authorities, as well as establishing and operating businesses in Argentina. He is a noteworthy addition to the Sal de Vida team."
Mr Chavez Diaz's appointment along with the recent addition of lithium industry veteran Dr Vijay Mehta brings in about 50 years of lithium brine processing expertise to the Sal de Vida team. Dr Mehta worked at FMC for 30 years and was one of the founding developers of the Fenix project operation. Dr Mehta's expertise is in brine processing through solar energy and the production of high purity (battery grade) lithium carbonate, lithium hydroxide and anhydrous lithium chloride.
Galaxy is continuing to build a highly qualified and experienced technical team at Sal de Vida as it nears completion of the Sal de Vida Definitive Feasibility Study. The make-up of current team incorporates lithium brine experience from Chile and Argentina as well as Galaxy's Jiangsu plant in China. In particular, the team has extensive brine pond and lithium processing experience as well as strong operational and design expertise.
The high quality Sal de Vida project is expected to become Galaxy's next flagship asset. Sal de Vida's potential production profile is 25,000 tpa of battery grade lithium carbonate, which would take Galaxy's annual lithium carbonate production to 42,000 tpa from 2016 onwards. Galaxy is continuing work on the development of Sal de Vida, although a final investment decision won't be made by the Galaxy Board until the Jiangsu Plant is generating positive cash flows on a sustained basis, expected Q1 2013.
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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