Australia’s Galaxy achieves lithium output guidance

Australian lithium producer Galaxy Resources achieved the upper end of its output guidance for October-December and full-year 2019.

Its Mt Cattlin mine in Western Australia produced 43,222 dry metric tonnes (dmt) of lithium concentrate in October-December, within quarterly guidance of 35,000-45,000dmt, the Perth-based company said. Output of 191,570dmt for full-year 2019 compared with guidance of 183,000-193,000dmt.

Sales of 29,778dmt in October-December were slightly below guidance of 30,000-45,000dmt. Of this amount, 14,778dmt was shipped to customers, with 15,000dmt delayed for shipment in the first quarter of 2020. Concentrate shipped in the first nine months of 2019 totalled 102,909t.

Galaxy reduced output at Mt Cattlin in October-December, in line with actions taken by several Australian lithium producers in response to weak demand and prices. The mine produced 50,104dmt of concentrate in the July-September quarter.

The company will release its full quarterly report on 23 January when it will also update on its Sal de Vida lithium brine project in Argentina and its James Bay hard rock lithium project in Canada.

By Angus Macmillan

source: Argus Media