Galaxy Resources 2021 grew 39.7% in the first quarter compared with the same period last year, optimistic about the prospect of global lithium demand.

On April 12, Galaxy Resources Co., Ltd. announced its quarterly earnings conference call in March 2021. It was mentioned at the meeting that Catlin Mountain had successfully returned to its nameplate capacity, achieving a quarterly lithium concentrate production of 46588 dry metric tons (dmt), up 39.7 per cent over the previous quarter and a recovery rate of 60 per cent. The quality of its 5.8%Li2O products meets customer requirements. A total of 29917 dry metric tons of lithium concentrate were shipped during the quarter, while the second batch of 15000 dry metric tons of lithium concentrate was delayed until early April due to the late arrival of ships.

At present, its shipping contract arrangement for the second quarter is progressing smoothly, with the CIF price well over US $600 / dry metric ton.

The preliminary economic assessment of James Bay confirmed that this is a highly competitive spodumene project. The project is currently under way and is expected to be completed by the end of the year. Sal de Vida is conducting on-site trial production and production site drilling and will release complete project descriptions and financial indicators before the first quarter results are announced.

According to public information: Galaxy Resources Co., Ltd. ("Galaxy") is an international company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. The company wholly owns and operates the Katrin Hill Mine in Ravenstep, Western Australia, and is currently engaged in the production of spodumene and tantalum concentrate.

Galaxy is currently promoting the development of the Sal de Vida lithium brine project in Argentina, which is located in the lithium triangle (where Chile, Argentina and Bolivia meet) and currently accounts for more than 40 per cent of global lithium production. Sal de Vida has great potential as a low-cost brine-based lithium carbonate production facility.

Galaxy's diversified portfolio also includes the wholly owned James Bay lithium pegmatite project in Quebec, Canada. James Bay will provide additional expansion capacity to accommodate future growth in lithium demand.

Lithium compounds are widely used in the manufacture of ceramics, glass and consumer electronics, and are the basic cathode materials for long-life lithium-ion batteries used in hybrid and electric vehicles and large-capacity energy storage systems. Galaxy is optimistic about the prospect of global lithium demand and is committed to becoming a major manufacturer of lithium products.