Galaxy Resources has returned its strongest month of production to date during April at the Mt Cattlin operation in Western Australia.
The 21,901 tonnes of lithium production translated to an annualised equivalent of over 260,000 tonnes, well ahead of Galaxy’s 180,000–210,000 tonne target for the year.
Mt Cattlin, two kilometres to the north of Ravensthorpe, is Galaxy’s sole Australian mine and its most developed project. The company also owns the James Bay project in Quebec, Canada, and is developing the Sal de Vida lithium brine deposit in Argentina.
Galaxy has focused on improving operations at Mt Cattlin by reducing costs and ramping up yield optimisation to meet rising demand from electric vehicle producers in China.
Mt Cattin’s total measured, indicated and inferred resource was increased by 42 per cent from 11.8 million tonnes to 16.7 million tonnes for 214,400 tonnes of lithium in January 2019.
Galaxy chief executive officer and managing director Anthony Tse said, “Our customer base in China is linked to some of the top-tier lithium supply chain end users, demonstrating the broad acceptance and recognition of consistency of the Mt Cattlin product.”
The company’s cost per tonne rates have also been significantly reduced at Mt Cattin in the March quarter. It recorded an average cost of $US329 ($471) a tonne for the period, a 27 per cent reduction on the $US453 a tonne recorded in the first quarter.
Tse added its continued cost reductions helped to ensure Galaxy maintained a “competitive advantage, allowing the company to continue delivering a healthy operational cash margin, notwithstanding the recent softening of lithium feedstock and chemical pricing”.