Galaxy Resources update

Galaxy Resources Limited has signed a Memorandum of Understanding with the Esperance Port Authority in order to investigate, evaluate and progress the export of Spodumene product through the Port of Esperance.

Galaxy Resources Limited has signed a Memorandum of Understanding with the Esperance Port Authority in order to investigate, evaluate and progress the export of Spodumene product through the Port of Esperance.

Both parties have formally agreed to enter into preliminary discussions to progress the possible storage, loading and export of the Company’s Spodumene product through the port.

Managing Director, Mr Tan said that approximately 150,000 tonnes of Spodumene is planned to be exported from the Mt Cattlin Lithium Tantalum Project, 2 kms north of Ravensthorpe in Western Australia.

The project will employ around 75-100 people and inject $60 million to the local region”Spodumene product which we are seeking to ship from the Port of Esperance is a mixture of naturally occurring silicates and quartz, making it absolutely inert and non toxic,” Tan said.

“The product is also insoluble and will be treated through wet screening to remove dust.

“Its end use will be powering environmentally friendly electric and hybrid cars. The rapid growth in demand for those vehicles, coupled with the potential world wide shortage of lithium, means Galaxy is well placed to enter the strong market for its product and deliver long-term regional benefits.”

We look forward to working with Esperance Port Authority and the local community in identifying a suitable export route for the Mt Cattlin Lithium Tantalum Project,” he said.

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