https://www.miningweekly.com

Galaxy seals lithium offtake contracts with Asian partners

29th November 2017

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Lithium miner Galaxy Resources has signed binding offtake agreements for 200 000 t/y of lithium concentrate from its Mt Cattlin operation and said on Wednesday that 100% of the planned output from the mine in Ravensthorpe, Western Australia, had now been sold on a five-year contract term.

The offtake contracts were executed with multiple customers throughout Asia. The offtake partners are producers of lithium carbonate and lithium hydroxide monohydrate.

Pricing is either on a cost-plus insurance and freight or cost-plus freight basis and will be subject to a yearly pricing review between Galaxy and its customers in the fourth quarter of each calendar year.

MD Anthony Tse said that Galaxy had seen a “very strong” interest from a wide range of current and new buyers after Mt Cattlin’s consistent production in 2017.

The company has agreed that a portion of Mt Cattlin’s lithium concentrate sold under the offtake agreements be converted on its behalf to lithium carbonate and lithium hydroxide. This will allow Galaxy to sell its own lithium chemical production to the end-user market, which is exhibiting robust demand.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION