GALAXY RESOURCES LIMITED (ABN: 11 071 976 442) Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com ASX ANNOUNCEMENT / MEDIA RELEASE meeting a lithium future 15 November 2011 GALAXY EXPECTS JIANGSU TO BE COMPLETED AHEAD OF REVISED SCHEDULE Highlights Jiangsu mechanical completion expected by end-Nov, one month ahead of revised schedule Construction has been fast tracked Cold commissioning to commence following handover First production at Jiangsu expected during first quarter of 2012 Galaxy Resources Limited (ASX: GXY, Galaxy) advises that final-stage construction of its wholly-owned Jiangsu Lithium Carbonate Project (Jiangsu or the Project) in China is expected to be mechanically completed by the end of November 2011, a month ahead of the revised schedule. Galaxy said the construction effort at Jiangsu had been accelerated and progress was better-than-expected. Under a revised project schedule, announced July 2011, Galaxy had targeted completion by the end of Q4 2011. Galaxy Resources Managing Director, Iggy Tan, said the strong workforce on site at Jiangsu contributed to the Project’s better-than-expected development. “The Jiangsu construction workforce has swelled to around 900 during day shift and up to 290 on night shift, which has been critical to the final stages of project completion. Costs continue to track in line with our previously stated budget target,” Mr Tan said. Galaxy said cold commissioning will occur for at least two months after the Project is mechanically completed. “The Company is processing applications for final production approvals and licenses with relevant government departments and is targeting first production during first quarter of 2012,” said Mr Tan. -ENDS- For more information, please contact: Corporate Australia Media Contact Hong Kong Media Contact Iggy Tan Jane Grieve Cindy Lung Managing Director FTI Consulting Strategic Financial Relations Limited Galaxy Resources Limited Tel (office): 08 9386 1233 Tel (office): (852) 2864 4867 Tel (office): 08 9215 1700 Tel (mobile): 0488 400 248 Tel (mobile): (852) 9282 4640 Email: [email protected]Email: [email protected]Email: [email protected]
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GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
15 November 2011
GALAXY EXPECTS JIANGSU TO BE COMPLETED AHEAD OF REVISED SCHEDULE
Highlights Jiangsu mechanical completion expected by end-Nov, one month ahead of revised schedule Construction has been fast tracked Cold commissioning to commence following handover First production at Jiangsu expected during first quarter of 2012
Galaxy Resources Limited (ASX: GXY, Galaxy) advises that final-stage construction of its wholly-owned Jiangsu Lithium Carbonate Project (Jiangsu or the Project) in China is expected to be mechanically completed by the end of November 2011, a month ahead of the revised schedule. Galaxy said the construction effort at Jiangsu had been accelerated and progress was better-than-expected. Under a revised project schedule, announced July 2011, Galaxy had targeted completion by the end of Q4 2011. Galaxy Resources Managing Director, Iggy Tan, said the strong workforce on site at Jiangsu contributed to the Project’s better-than-expected development. “The Jiangsu construction workforce has swelled to around 900 during day shift and up to 290 on night shift, which has been critical to the final stages of project completion. Costs continue to track in line with our previously stated budget target,” Mr Tan said. Galaxy said cold commissioning will occur for at least two months after the Project is mechanically completed. “The Company is processing applications for final production approvals and licenses with relevant government departments and is targeting first production during first quarter of 2012,” said Mr Tan.
-ENDS- For more information, please contact: Corporate Australia Media Contact Hong Kong Media Contact Iggy Tan Jane Grieve Cindy Lung Managing Director FTI Consulting Strategic Financial Relations Limited Galaxy Resources Limited Tel (office): 08 9386 1233 Tel (office): (852) 2864 4867 Tel (office): 08 9215 1700 Tel (mobile): 0488 400 248 Tel (mobile): (852) 9282 4640 Email: [email protected] Email: [email protected] Email: [email protected]
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Company also has a farm in agreement with TSX-listed Lithium One Inc to acquire up to 70% of the James Bay Lithium Pegmatite Project in Quebec, Canada. Lithium compounds are used in the manufacture of ceramics, glass, electronics and are an essential cathode material for long life lithium-ion batteries used to power e-bikes and hybrid and electric vehicles. Galaxy is bullish about the global lithium demand outlook and is positioning itself to achieve its goal of being involved in every step of the lithium supply chain.
Area 20 – Calcination kiln background, laboratory building in fore ground
Calcination cooler
Lithium carbonate production and purification area
Sodium sulphate plant
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
For more information, please contact:
Corporate Australia Media Contact Hong Kong Media Contact Iggy Tan Jane Grieve Cindy Lung Managing Director FD Strategic Financial Relations Limited Tel (office): 08 9215 1700 Tel (office): 08 9386 1233 Tel (office): (852) 2864 4867 Email: [email protected] Tel (mobile): 0488 400 248 Tel (mobile): (852) 9282 4640 Email: [email protected] Email: [email protected]
About Galaxy (ASX: GXY) Galaxy Resources is a Western Australian S&P / ASX 300 Index company which plans to become one of the world’s leading producers of lithium compounds – the essential component for powering the world’s fast expanding fleet of hybrid and electric cars. Galaxy wholly-owns and operates the Mt. Cattlin mine, which is currently producing spodumene concentrate. Galaxy’s Jiangsu lithium carbonate plant, once completed, will have a design capacity of 17,000 tpa of lithium carbonate, which Galaxy expects would make it one of the largest plants in China converting hard rock lithium mineral concentrates into lithium compounds and chemicals. Lithium compounds such as lithium carbonate are forecast to be in 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 also by downstream processing to supply lithium carbonate to the expanding Asian market.
Sulphation kiln
Calcination kiln
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Lithium carbonate production area
South side of the Jiangsu plant site
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Final product storage warehouse
Front entrance of site and administration building
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Kiln platform with reagents storage in background
Final product bins and sodium sulphate crystalliser
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Punch list checking by Galaxy staff
Purification plant
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Cooling tower and final product warehouse
Final product bins Puririfcation circuit
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
ASX ANNOUNCEMENT / MEDIA RELEASE
meeting a lithium future
Site laboratory
Lithium carbonate production area Product centrifuge
Lithium carbonate production area Control Room
GALAXY RESOURCES LIMITED (ABN: 11 071 976 442)
Level 2, 16 Ord Street, West Perth, WA 6005 T: +618 9215 1700 F: +618 9215 1799 www.galaxylithium.com
