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Main ForumGalaxy Resources Production Update

  • Highlights

     June lithium carbonate production increases month-on-month to 604 tonnes

     Total product sales of 548 tonnes recorded for the month

     Battery grade lithium carbonate production and sales continue to improve

    Galaxy Resources Ltd (ASX: GXY) (“Galaxy” or “the Company”) is pleased to advise that production at its Jiangsu Lithium Carbonate Plant (“Jiangsu” or “the Plant”) in China increased month-on-month to 604 tonnes in June 2013 from 521 tonnes in May.

    Lithium carbonate sales (battery and technical grade) totalled 548 tonnes in the month, slightly ahead of May’s figures.

    Battery grade lithium carbonate production and sales also recorded increases during the month. Testing and qualification of the product is continuing with a range of battery cathode manufactures in China, which is expected to boost Galaxy’s customer base in the second half of the year.

    Galaxy interim Managing Director Anthony Tse said: “Production at Jiangsu has been steadily increasing following the recommencement of operations at the Plant in February 2013. We continue to ramp-up operations at the Plant, which at current production rates, already ranks as the second largest lithium carbonate production facility in China.”

    The Jiangsu Plant is designed to produce 17,000 tonnes per annum of battery grade (99.5% purity) lithium carbonate.

    Read about other Australian Lithium companies at www.australian-lithium.com

  • Debt costs became too high making the Jiangsu plant too expensive to stay with. I'm sure it was sold at a value less than its cost. A damn shame. A state-of- the-art company was behind which I'm sure the Chinese will use well.

  • LYC will likely be next......

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