Initiation: Focused on fast-growing lithium market
Galaxy Resources (GXY) is focused on the fast-growing lithium market. It is advancing plans to develop the Sal de Vida lithium and potash brine project in northern Argentina, located in a region known as the ‘lithium triangle’, an area that also spans parts of Chile and Bolivia. Approximately 60% of global lithium production is sourced from this area. Following the recent company restructure, GXY has flexibility to pursue growth options.Galaxy Resources and its subsidiaries are primarily involved in mineral exploration and processing. Co.'s principal activities are production of lithium carbonate and exploration for minerals. Co. manages its businesses by geographic location: Australia operation, which includes the development and operation of the Mt. Cattlin spodumene mine and exploration for minerals; Argentina operation, which includes the development of the Sal de Vida project and exploration for minerals; and Canada operation, which includes the development of the James Bay project and exploration for minerals.
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