Galaxy Resources' Jiangsu plant sale faces further delays
Published: Tuesday, 03 March 2015
Galaxy Resources has been forced to extend its share trading suspension yet again, as a lack of clarity pervades on the sale of its Jiangsu plant to China's Tianqi Lithium. The delay may be compensated for by more leasing activity by Galaxy to ensure financial flexibility.
Australian miner Galaxy Resources is being forced to await
further Chinese regulatory approval before it can sell its
Jiangsu lithium carbonate plant to prospective buyer Tianqi
Lithium Industries, the company said in an Australian Stock
Exchange announcement today.
As a precautionary measure, the group has decided to