Galaxy lease Mt Cattlin lithium mine to General Mining Corp for $1.95m pa
Published: Monday, 09 February 2015
Galaxy’s focus for now is on attaining financial stability. The company has already agreed to sell its Chinese plant to Tianqi, now it is giving General Mining the option to buy its spodumene source in Australia for $30m.
ASX-listed Galaxy Resources Ltd. has
granted General Mining Corp. a three-year lease to operate its
Mt Cattlin lithium project in Western Australia.
Royalties for spodumene revenues will be shared equally
subject to the companies entering into a more detailed
agreement.General Mining has the option to purchase Mt Cattlin