Galaxy Resources Limited (ASX:GXY)
Galaxy Resources Limited (ASX:GSY) is an international mining company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina.
Galaxy wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate. The company is advancing development of its wholly owned Sal de Vida lithium brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet - currently the source of more than 40% of global lithium production).
Galaxy’s diversified project portfolio includes its James Bay lithium pegmatite project in Quebec, Canada, which can provide additional spodumene concentrate production to capitalise on future lithium demand.
Lithium compounds are used in the manufacture of ceramics, glass, pharmaceuticals and are an essential cathode material for lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems and consumer electronics.