Date: 11 March 2020 , 22:35
News ID: 8687
NEWS SERVICE: Non-Ferrous

Australia's Galaxy begins Li resource preservation mode

Australian lithium producer Galaxy Resources is prioritising "resource life preservation" at its Mt Cattlin mine in Western Australia, in response to continued weak market conditions in the global lithium market.
Australia

Mt Cattlin's mineral resource estimate has been updated to 14.5mn t grading 1.29pc lithium oxide and 157 parts per million (ppm) tantalum pentoxide, after depleting 2.1mn t from mining operations. Mt Cattlin's ore reserve has been updated to 8.2mn t grading 1.29pc lithium oxide and 155ppm tantalum pentoxide.

Galaxy, along with a few other Australian lithium producers, is sharply cutting lithium output until market conditions improve. It expects Mt Cattlin to produce 14,000-20,000 dmt of lithium concentrate in January-March compared to 43,222 dmt in October-December. The mine produced 191,569 dmt of lithium concentrate in 2019 and sold 132,687 dmt to off take partners in China.

Galaxy will mine and process 60pc less ore in 2020 than it did in 2019 as it attempts to align its production with market demand.

The company is also in the early stages of developing the Sal de Vida lithium brine project in Argentina and the James Bay hard rock lithium project in Canada.

By Angus Macmillan

source: Argus Media
Australia Galaxy lithium market China
Related News

Rio Takes step toward M&A redemption with $6.7 billion lithium bet

Four last year
Top News
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
One last month
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Six last month
"Sustainability and innovation in production and development, excellence in culture", the orientation of Mobarakeh Steel Co. to realize the motto of 2024
Six last month
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Six last month
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
Six last month
The President visited the Sungun Copper Complex
The President visited the Sungun Copper Complex
Two last year
Most Like