Galaxy Signs Spodumene Agreement with Talison Lithium

Galaxy Resources Ltd (ASX:GXY) announced that it has signed a spodumene feedstock contract with another lithium company, Talison Lithium to supply the company’s Jiangsu Plant in China.

As quoted in the press release:

Galaxy will purchase the Talison feedstock in US dollars, which will represent additional cost benefits to Galaxy. Mt Cattlin was developed as an integrated feedstock provider for Jiangsu. Since then, exchange rate deterioration of over 40% over a sustained term has pressured the cost of local production.

Click here to read the full Galaxy Resources Ltd (ASX:GXY) press release.