Jiangsu back in black by Q3
PERTH (miningweekly.com) – Lithium miner Galaxy Resources is expected to become cash positive by the third quarter of this year, as the company reported its first solid month of production following fatalities and a plant shutdown that occurred in November last year.
Galaxy said on Thursday that its Jiangsu plant, in China, achieved its first full month of production during March, producing some 425 t of lithium carbonate. This was some 31% of design capacity.
However, the plant recorded a one-day output of 33 t, which was 70% of the design output, which Galaxy said demonstrated the potential for continued production hikes in the coming months.
“We are pleased to have Jiangsu producing at a stable rate again, and we will continue to increase production and sales as part of Jiangsu’s ramp-up programme,” said MD Iggy Tan.
“Subject to sales and the ramp-up progress, the company now expects Jiangsu to become cash flow positive during the third quarter this year.”
Tan noted that over the coming months, Galaxy would focus on increasing back-end output at the plant. The kiln, located at the front-end, has been operating at up to 18 t/h for periods during March, indicating that modifications to the internal workings of the kiln during the recent shutdown, were having a beneficial impact.
Tan added that the newly installed kiln lifters were also allowing the kiln to operate at close-to-design feed rates, and with improved levels of natural gas usage.
The plant had a production capacity of some 17 000 t/y of battery-grade lithium carbonate, and would be the largest producer in the Asia Pacific region, as well as the fourth-largest producer in the world.
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