Increased demand of lithium batteries will help Galaxy grow.
GALAXY Resources has come a long way since its early days as a lithium explorer.
It has now moved into production at its Mt Cattlin mine near Ravensthorpe, it has interests in a Canadian deposit, and is set to open the world’s largest battery-grade lithium carbonate processing plant in Jiangsu, China, in March.
And chief executive Iggy Tan announced another step up the value chain at a lithium conference in Argentina yesterday, with a proposal to expand the Jiangsu plant to produce 5000 tonnes a year of battery-grade lithium hydroxide, taking total high-grade lithium production to 22,000 tonnes a year.
Normally that would be something of a warning sign for investors, given the risks for a miner travelling further up the value-added chain. But in this case the potential to share plant overheads and infrastructure should contain the extra costs.
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