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Old 07-04-2011, 04:08 AM
Sparty Sparty is offline
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Default Galaxy's second Lithium shipment to China

GALAXY EXPORTS SECOND SHIPMENT OF SPODUMENE TO CHINA

Highlights
  • Galaxy's second spodumene shipment sails to China
  • Shipment volume approximately 19,200 tonnes
  • Commercial value of shipped product above US$4.5 million

Lithium focused Galaxy Resources Limited (ASX: GXY, "Galaxy") is pleased to announce it has exported a second shipment of spodumene product from its Mt Cattlin project to China.

Approximately 19,200 tonnes of spodumene was loaded on the MV Karine bulker at the Bunbury Port on 30 June 2011 bound for the Port of Zhangjiagang in the People?s Republic of China.

Galaxy produces spodumene concentrate at its Mt Cattlin mine and plant near Ravensthorpe. Spodumene is converted into lithium carbonate, a key ingredient in lithium-ion batteries.

Galaxy Resources Managing Director, Iggy Tan, said the MV Karine was slightly delayed in arriving at the Bunbury Port, however it allowed Galaxy to increase the volume of its shipment by over 2,000 tonnes.

"Production at Mt Cattlin has continued to perform strongly, which allowed us to increase the volume of our second shipment. In the current market, the commercial value of the shipment is in excess of US$4.5 million." Mr Tan said.
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