Galaxy Resources Limited (ASX: GXY) has further advanced the development of its Mt Cattlin Lithium/Tantalum project located near Ravensthorpe, Western Australia, with the appointment of international technology group Outotec Oyj to commence test work and process design for the production of lithium carbonate from spodumene concentrate.

In preparation to supply lithium carbonate to the rapidly expanding international hybrid vehicle market, Galaxy has progressed discussions with suitable international commodities marketers, offering partnership and marketing rights in exchange for project finance support.

"Mt Cattlin is on schedule to realise the benefits of escalating investment in the hybrid electric and electric vehicle market," said Galaxy Managing Director Michael Fotios.

"Prices for lithium carbonate have increased from US$600/tonne late last year and are currently quoted at about US$650/tonne," he said. – Edited Press Release