Shares in Galaxy Resources jumped on 29 November after it said it had signed a series of long-term lithium off-take agreements with customers in Asia. The company has also been working to develop new battery technology for its electric cars and is looking at ways to expand the use of lithium-ion batteries as an alternative energy source. Galaxy also said it would be paid a higher "headline" price for its product in 2018 than 2017.
Shares in Galaxy Resources jumped on 29 November after it said it had signed a series of long-term lithium off-take agreements with customers in Asia. The five-year deals cover are for a minimum of 200,000 tonnes per annum of lithium concentrate, guaranteeing buyers for all the output of Galaxy's Mt Cattlin mine in Western Australia as far ahead as 2022. Galaxy also said it would be paid a higher "headline" price for its product in 2018 than 2017.