Australian Shares Sparty's Blog
Comments on this blog should never be taken as investment advice
Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.
Main Forum•Galaxy Now Mining Lithium Rock
-
Galaxy Resources is currently the only ASX listed company that is currently extracting Lithium ore (spodumene) in Australia.
By 2010, Galaxy expects the Mt Cattlin mine to 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 as most people know is one of the substrates for our emerging electron-economy and as such plays a central part in the shift to green energy.
Australia has a number of companies with Lithium deposits and a couple are getting near to production. www.australian-lithium.com has been designed to provide investors and those interested in Lithium in general an easy way to access the issues, companies and research surrounding Lithium.
(Australia has a couple of promising hard rock deposits but prior to GXY Australia's only Lithium miner operating was the private company Talison operating thee Greenbushes project in WA..... Other sources for Lithium are from Brine Lakes, several of these exist in Australia... but by and large they have too high a mg:li ratio to be economic. One Australian company Orecombe asx: ORE has a good and probably viable Lithium brine lake project overseas.
Galaxy has come into production at an opportune time as 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. And being the lowest cost Lithium Carbonate producer in China coupled with GXY being the world's second largest spodumene miner points to a great future.
