Lithium Universe says it is making significant progress in definitive feasibility study work for its proposed Bécancour lithium refinery in Canada, with process flow sheets and stream tables already finalised. The company has plans for a 16,000 tonnes per annum battery-grade lithium carbonate refinery in the North American nation, with heavyweight engineering firm Hatch commissioned to undertake a comprehensive study for the refinery's design.
A recent trip to several Chinese lithium producers has reinforced Lithium Universe's commitment to building its proposed 16,000 tonnes per annum battery-grade lithium carbonate refinery in Canada. The trip, undertaken by the company's key management figures, took in the Jiangsu lithium carbonate refinery that was built by Lithium Universe executives Iggy Tan, Dr Jingyuan Liu and John Loxton during their time with Galaxy Resources.
Lithium Universe is another step closer to establishing its proposed Quebec lithium processing hub after securing global consulting heavyweight Hatch to undertake the engineering study for its downstream lithium carbonate refinery in Canada. The first part of the study will be to determine the ideal location for the 16,000 tonnes per annum lithium carbonate refinery and the estimated capital and operating costs.
Galaxy Resources' $4 billion merger with Queensland lithium producer Orocobre will come into effect later this month after the plan was approved by the Western Australian Supreme Court today.
Shares in Galaxy Resources closed up by more than 8 per cent on Wednesday when the company released an updated development plan for its Sal de Vida lithium project in Argentina.
Galaxy Resources, Pilbara Minerals and Altura Mining will receive a 50 per cent rebate on royalties paid, due to the declining spodumene concentrate price.
Perth-based lithium producer Altura Mining has been placed in receivership after the ASX-listed company was unable to refinance its debt, placing 100 jobs at risk.
Mining contractor Dynamic Drill and Blast says it will use funds raised from a $5 million initial public offering to tackle a strong tendering pipeline and potentially grow the business in Western Australia's civil sector.
Lynas Corporation and Galaxy Resources have suspended operations in response to tighter overseas government controls, while explorer Whitebark Energy has also felt the impacts of COVID-19.
Galaxy Resources has disclosed a $US284 million ($A430 million) loss for the 2019 financial year, driven by lower lithium prices and non-cash write-downs and impairment at its Mt Cattlin mine near Ravensthorpe.
A decision by Wesfarmers and partner SQM to pause investments at the Mount Holland mine and Kwinana refinery bring to about $3 billion the value of lithium projects deferred in Western Australia during the past year.
OPINION: WA again stands to be the beneficiary of trouble elsewhere, with local producers of lithium, gold, iron ore and hydrocarbons the likely winners.
A quarterly rebalancing of S&P/ASX indices has resulted in South32 being relegated from the top 20 index, and Galaxy Resources being dropped from the top 200 index.
At least $1.6 billion of equity has been raised by WA-linked critical minerals hopefuls in the past five years, but achieving consistent returns is another battle.
Alita Resources has repaid $US32.5 million ($A47 million) to its major shareholder and creditor Galaxy Resources, which confirmed today it would not pursue its planned acquisition of the lithium mi
Collapsed lithium miner Alita Resources has entered a binding $70 million loan agreement with China Hydrogen Energy, three months after the company went into administration.
Lithium miner Galaxy Resources said it would scale back operations at its Mt Cattlin mine in Ravensthorpe to help reduce costs until the electric vehicle market improves.
Galaxy Resources will scale back shipments from its flagship Mt Cattlin mine by up to 48 per cent, as weak global demand for lithium continues to linger.
OPINION: Every cloud has a silver lining, even the attacks on the Saudi Arabian oil industry, because they could provide the incentive for customers to seek more liquefied natural gas from Western Australia.
Galaxy Resources has confirmed interest in striking a downstream processing deal with Alita Resources' offtake partner, just a day after placing the lithium miner into receivership, while Talison is reconsidering the timing of its $516 million stage three expansion project at Greenbushes.
Alita Resources has entered administration just two days after its biggest shareholder, Galaxy Resources, struck a deal to buy the company's $42 million in secured debt.
Galaxy Resources has gained effective control of struggling lithium miner Alita Resources by purchasing a $US28.8 million ($A42 million) secured loan facility.
Galaxy Resources said it expects to record a non-cash impairment charge of between $US150 million ($222 million) and $US185 million ($274 million) for the first half of 2019, reinforcing the current bleak conditions in the lithium sector.
Galaxy Resources has reported strong production results in the June quarter, after it exceeded its guidance at the Mt Cattlin lithium operation despite shipment delays.
Alliance Mineral Assets has raised $32.5 million via two share placements, including with Galaxy Resources, with the funds set to primarily go towards upgrades at the processing facilities at its Bald Hill lithium and tantalum mine.
OPINION: Muffled by the drumbeat of election campaigning as Australia heads towards its May 18 poll is a more sinister noise, demands for a big cut in interest rates, or the dumping of “helicopter” cash on the community – or both.
Galaxy Resources has abandoned its search for a joint venture partner for Sal de Vida, after no company was willing to inject enough capital for the Argentinian project.
Our daily board moves wrap includes Kim Hogg, Tino Kapfumo, Michael van Uffelen, Simon Hay, Anthony Tse, Ray Voorhoeve, Mandy McGuire, and Geoffrey Clifford.
Lithium miner Galaxy Resources has flagged a strong increase in its estimate of reserves and resource at its Mt Cattlin Project, located two kilometres north of Ravensthorpe, following its latest drilling activities.
Lithium producer Pilbara Minerals has resolved to approve the stage two expansion at its Pilgangoora mine once all necessary approvals and funding have been secured.
SPECIAL REPORT: Battery metals businesses such as Pilbara Minerals, Altura Mining, and Western Areas have joined AusCann Holdings, Buru Energy and OM Holdings among the best-performing stocks in the year to June.
Shares in Galaxy Resources have surged after the lithium miner announced a $US280 million ($A371 million) asset sale deal with South Korean giant Posco.
