Galaxy announces first lithium concentrate shipment from recommissioned Mt Cattlin project

Image credit: Galaxy Resources ASX release

Galaxy Resources Limited announced that it has loaded its first shipment of lithium concentrate from the recommissioned Mt Cattlin project, located two kilometres north of the town of Ravensthorpe in Western Australia.

Image credit: Galaxy Resources ASX release

According to the company, a total of approximately 10,000mt was loaded on the NY Trader 1 bound for Lianyungang Port in China, which sailed on the 2 January 2017.

Galaxy’s Managing Director Anthony Tse said the shipment has a gross value of approximately US$6 million, with payment expected from Mitsubishi in two weeks.

“This is an exciting day for Galaxy and for our customers, it marks another major achievement and signals Galaxy’s formal transition back to producer status, elevating it into the ranks of global lithium producing companies,” Mr Tse added.

“There has been tremendous amount of hard work with some very long hours put in, under tight and challenging deadlines, to get the operations to the stage where they are at and to allow us to make our first shipment today.”

Mr Tse said that production ramp up at Mt Cattlin was progressing well, with daily plant utilisation now averaging 72% and recoveries averaging at 60%.