Galaxy Project Update – accepting EOI’s
Galaxy’s push to become one of the world’s leading producers of lithium (the essential component for powering the world’s fast expanding fleet of hybrid and electric cars) picked up pace last week with their successful raising of $A65m in capital.
By 2010, Galaxy’s Mt Cattlin mine will be the world’s second largest hard rock producer of lithium and, through the development of its value adding lithium carbonate plant (17,000 tpa), the Company will be the largest and lowest cost lithium producer in China. Lithium concentrate and lithium carbonate materials are forecast to be in short supply against high future demand due to advances in long life batteries and sophisticated electronics including mobile phones and computers. Galaxy Resources has positioned itself to meet this lithium future by not only mining the lithium but by downstream processing to supply lithium carbonate to the lucrative Asian market.
Demonstrating that demand and confidence is high, Galaxy was almost three times oversubscribed in its capital raising efforts. The funds will act as a cash bugger during commissioning and start up.
The Mt Cattlin Lithium Tantalum Project is located approximately 2km north of the town of Ravensthorpe in Western Australia. Galaxy has previously gone on record to acknowledge that the availability of infrastructure as a result of the BHP Billiton Ravensthorpe Nickel Operation closure has enabled the project to proceed at a lesser than anticipated cost and to adopt the preferred option of a residential workforce.
The proposed mine is based on mining and processing 15 million tonnes of ore over a 15 year period. Construction is tipped to commence in November 2009.
During the course of the construction period of the project, they will be seeking to appoint personnel to various positions covering professional, operations and trades. To register, head to www.beilby.com.au and apply to WAU14441.
In addition, Galaxy are accepting expressions of interest: http://www.galaxyresources.com.au/sendyourcv.php