Galaxy Resources

Galaxy Resources Limited was an Australian public mining company. It was listed on the Australian Securities Exchange until it merged with fellow lithium producer Orocobre in August 2021 to form Allkem.

Galaxy Resources Limited
TypePublic
ASX: GXY
IndustryMining
Founded1996[1]
HeadquartersApplecross, Western Australia
Key people
Martin Rowley (Chairman)
Simon Hay (CEO)
Alan Rule (CFO)
ProductsSpodumene concentrate at 6.0% Li2O
Production output
191,570 tonnes (2019[2])
Websitewww.gxy.com

Operations

Galaxy Resources was a lithium mining company with projects in Australia, Canada and Argentina.[3]

It owned and operated the Mt Cattlin spodumene-tantalite mine at Ravensthorpe, Western Australia.[3] The mine operated between 2009 and 2012 before being placed on care-and-maintenance between 2013 and 2016. Following a plant refurbishment, mining at Mt Cattlin recommenced in March 2016, with first tantalum production in May 2016.[4][5][6]

The Sal de Vida lithium brine project, located in Argentina's Salta and Catamarca provinces, and the James Bay Lithium Pegmatite Project in James Bay, Quebec, Canada are at a development stage.[7]

In May 2016, Galaxy announced a merger with its joint venture partner in the Mt Caitlin mine, General Mining Corporation.[8]

Galaxy sold a northern package of tenements on the Hombre Muerto salar to South Korean conglomerate POSCO for US$280 million in 2018. The sale allowed the company to maintain its original proven and probable reserves of 1.14 million tonnes LCE (Lithium Carbonate Equivalent). The measured and indicated resource as at 2016 was 5.67 million tonnes LCE.[9][10]

The company merged with fellow lithium producer Orocobre in August 2021. The resulting company was branded Allkem.[11]

See also

References
  1. "Galaxy Resources". Financial Times. Retrieved 23 July 2018.
  2. "Consolidated Financial Report year ended 31 December 2019" (PDF). Galaxy Resources. 21 February 2010. Retrieved 9 September 2020.
  3. "Corporate overview". Applecross Western Australia: Galaxy Resources Limited. Retrieved 6 May 2018.
  4. "Barnett opens Galaxy's Mt Cattlin spodumene project". 6 November 2009. Archived from the original on 30 April 2012.
  5. Kagi, Jacob (20 March 2013). "Lithium mine shut down in blow to Ravensthorpe".
  6. "Investor Presentation" (PDF). Ardross, WA: Galaxy Resources Limited. 30 August 2016. p. 5. Retrieved 3 September 2016.
  7. McKinnon, Stuart (8 February 2017). "Galaxy confirms $61m raising from placement". The West Australian. Perth, WA. Retrieved 6 May 2018.
  8. Ingram, Tess (30 May 2016). "Galaxy Resources and General Mining in $700m lithium merger". Sydney Morning Herald. Retrieved 31 May 2016.
  9. "FINAL BOARD APPROVAL RECEIVED FROM POSCO AND BINDING AGREEMENT EXECUTED TO SELL NORTHERN PACKAGE OF TENEMENTS AT SAL DE VIDA" (PDF). ASX Ltd.
  10. "Sal de Vida: Revised definitive feasibility study confirms low cost, long life and economically robust operation" (PDF). Ardross, WA: Galaxy Resources. 22 August 2016. Retrieved 9 September 2020.
  11. Macmillan, Angus (25 August 2021). "Orocobre-Galaxy lithium merger to be rebranded Allkem". Argus Media. Retrieved 23 April 2023.
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