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GXYGalaxy in the world's first Lithium ETF

  • Galaxy Resources Limited (ASX:GXY) Included In The World First Lithium Focused Exchange Traded Fund

    Wednesday July 28 9:38 AM

    Perth, Australia, July 28, 2010 - (ABN Newswire) - Emerging lithium producer, Galaxy Resources Limited (ASX: GXY.AX) (PINK:GALXF), has been included in the world's first lithium focused Exchange Traded Fund (ETF).

    The fund, launched by New York based investment manager Global X Funds, is the first fund of its kind that provides investors with an opportunity to gain exposure to fast growing lithium sector.

    The basket of lithium-related equities included in the fund gives investors access to the complete lithium value chain, from mining and refining through to lithium battery production.

    Galaxy Resources Managing Director, Mr Iggy Tan, said he was pleased Galaxy had been selected in the world's first lithium ETF.

    "Galaxy's inclusion makes sense given the Company's commitment to creating value further down the lithium supply chain," Mr Tan said.

    "We are now producing ore from our mine and making strong progress on the construction of our downstream processing facility which will produce lithium carbonate to sell as high grade feedstock for battery producers.

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