PERTH (miningweekly.com) – Lithium miner Galaxy Resources has reported a 43% increase in production at its Mt Cattlin operations, in Western Australia, in the three months to September, compared with the second quarter of 2017.
The ASX-listed company on Monday reported that Mt Cattlin produced 47 075 to of lithium concentrate during the quarter.
Galaxy told shareholders that mining volumes during the three months increased by 7% on the previous quarter, mainly owing to a 29% increase in ore mining volumes.
Meanwhile, an improved performance at the Mt Cattlin plant during the quarter also continued, with average recovery of 57% achieved, which was above the targeted levels of 50% to 55%.
Galaxy noted that some 41 834 t of lithium concentrate was sold from the Mt Cattlin operation during the quarter under review, an increase of 39% on the June quarter. Average realised prices reached $843/t, which was a 17% improvement over the second quarter, generating earnings before interest, taxes, depreciation and amortisation of A$21.6-million.
Edited by: Creamer Media Reporter
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