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Galaxy reopens Jiangsu plant

6th February 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) - The share price of lithium miner Galaxy Resources were boosted on Wednesday on news that the company had restarted operations at its Jiangsu lithium carbonate plant, in China.

A November incident at the Jiangsu plant, which claimed the lives of two of the plant workers, halted operations, and cost the miner A$66.2-million worth of investment from the East China Mineral Exploration & Development Bureau.

Galaxy said this week that the Chinese Safety Bureau had now inspected and approved the company’s repairs to the affected u-bend section of the pipe, and plant operations were expected to resume fully, with lithium carbonate production expected by the end of the week.

Additionally, a complete hazard and operability review had been conducted across the Jiangsu operation to ensure complete and ongoing safety at the plant, the ASX-listed Galaxy said.

The main calcination kiln was in the final stage of the dry-out process, and would shortly be heated to full temperature to coincide with the start-up of the plant, allowing for a seamless transition to full operation.

Galaxy shares were trading at a high of 42c a share on Wednesday, up from an opening price of 39c a share.

Edited by Creamer Media Reporter

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