Galaxy Resources (ASX:GXY) Sponsor Zero Emissions Race Entrant "Team Trev"
Adelaide, Feb 23, 2010 AEST (ABN Newswire) - Galaxy Resources (
ASX:GXY) is an emerging Australian mining and chemical company focusing on lithium and tantalum production. It is at an advanced stage of developing its Mt Cattlin Lithium Project in Ravensthorpe, Western Australia.
It intends to add value to the Mt Cattlin Project by establishing its own downstream lithium processing facilities in Jiangsu Province, China.
Team Trev Director Andrew Dickson said Galaxy Resources is a great fit for Team Trev.
"Lithium is an essential ingredient in many battery technologies, including the lithium ion batteries favoured by electric cars including Trev. Many future electric cars will be powered by batteries containing Australian lithium mined and processed by Galaxy Resources."
"We are grateful to Galaxy for their Gold sponsorship of Team Trev, and we are happy to take Galaxy's brand around the world with us during Zero Race."
About Galaxy Resources Limited
Galaxy Resources Limited (ASX:GXY) (OTCMKTS:GALXF) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.
Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low cost brine-based lithium carbonate production facility.
Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.
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