Galaxy Resources finalises Espreance export agreement

Company News

by David Chau

Galaxy Resources (ASX:GXY) has received key approvals to export, from the Port of Espreance, the spodumene produced at its Mt Cattlin Project, in Western Australia.

These approvals were granted by the Southern Ports Authority and the Department of Environmental Regulations.

A condition of the export approvals is for Galaxy to reduce the mica content in its spodumene. Galaxy has confirmed that the mica content is now below 5%.

The mining company also says it has awarded Qube Holdings Ltd (ASX:QUB) the haulage and port services contractfor its Mt Cattlin lithium and tantalum project.

Galaxy Resources posted a net profit of $70.4 million at 30 June 2016.

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