Galaxy’s spodumene production, sales up in Q4
Published: Tuesday, 26 February 2019
Australian producer Galaxy raised production and sales of lithium spodumene in the last quarter of 2018, but the achieved cash margin declined.
Australian lithium miner Galaxy Resources increased
production and sales of lithium spodumene from its flagship
operation at Mount Cattlin in Western Australia in the
October-December quarter of 2018, while seeing a decrease in
the achieved average cash margin per tonne sold.
Galaxy increased production by 8% to 33,780 tonnes in the
fourth quarter, from 31,156 tonnes in July-September, it
reported on Thursday January 24.
Production of lithium spodumene for the full calendar year
of 2018 totaled 156,689 tonnes.
Galaxy expects to produce 40,000-45,000 tonnes of lithium
spodumene in the first quarter of 2019, and 180,000-210,000
tonnes in the full year.
Fourth-quarter sales were also higher by 34% quarter on
quarter, rising to 39,682 tonnes of lithium spodumene sold,
from 29,555 tonnes sold in the third quarter.
Full-year 2018 sales totaled 159,255 tonnes of lithium
spodumene with an average grade of 5.76%.
Although Galaxy has not specified the price at which sold
its lithium spodumene, Fastmarkets’ assessment of
the price of lithium spodumene, min 5-6%, cif China, was
$600-750 per tonne on December 26, down from $650-800 per tonne
on November 28.
Galaxy mined 27% more ore in the fourth quarter, extracting
988,387 tonnes compared with 779,485 tonnes in the third