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Australia’s Galaxy signs LOI for site of proposed Li-ion battery project in China

Australia-based emerging lithium producer,
Galaxy Resources Limited
, has signed a non-binding Letter of Intent (LOI) for the site of a proposed lithium-ion battery project in China.

The LOI has been signed with the Jiangsu Province Zhangjiagang Free Trade Zone Administrative Committee (JPZFTZ) for a 10 hectare site, located in the Jiangsu Eco-Friendly New Materials Industrial Park.
Galaxy Managing Director Iggy Tan said tite is an ideal location for the proposed lithium ion battery facility, located only several kilometers from the Company’s Jiangsu lithium carbonate project and close to many of the utilities, consumables and processing materials required for battery production.

In addition, the proposed site is in close proximity to some of the
major Chinese electric bike manufacturers located in the Jiangsu and neighboring Zhejiang Provinces.
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