Falling grades bring down Mt Cattlin production - Galaxy
PERTH (miningweekly.com) – Lithium miner Galaxy Resources has seen a 35% fall in production during the September quarter, as grades at the Mt Cattlin operation, in Western Australia, declined.
Lithium concentrate production during the third quarter reached 31 156 t, down from the 47 901 t produced in the previous quarter.
Galaxy on Thursday said that total mining volumes also decreased by 8% on the previous quarter, which was the result of a delay in receiving permits to allow planned mining access east of Floater Road.
All the necessary permits were received in the first week of October, and mining has now started in this area.
Meanwhile, concentrate sales volumes also declined by 35% for the quarter under review, down to 29 555 t, from the 45 761 t reported in the previous quarter.
During the quarter under review, Galaxy entered into a binding agreement with Korea’s Posco to sell a package of tenements in the northern area of the Salar de Hombre Muerto asset, in Argentina, for $280-million.
The funds will be used to progress the development of the Sal de Vida project, of which Galaxy would retain full ownership, and which is estimated to host a reserve of 1.14-million tonnes of lithium carbonate equivalent.
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