GXY in First Lithium ETF
Galaxy included in world’s first lithium focused Exchange Traded Fund
Fund tracks performance of the largest and most liquid lithium mining, refining and battery producing companies.
Further enhances lithium as an attractive investment opportunity Emerging lithium producer, Galaxy Resources Limited (GXY), has been included in the world’s first lithium focused Exchange Traded Fund (ETF). The fund, launched by New York based investment manager Global X Funds, is the first fund of its kind that provides investors with an opportunity to gain exposure to fast growing lithium sector.
The basket of lithium-related equities included in the fund gives investors access to the complete lithium value chain, from mining and refining through to lithium battery production. Galaxy Resources Managing Director, Mr Iggy Tan, said he was pleased Galaxy had been selected in the world’s first lithium ETF. “Galaxy’s inclusion makes sense given the Company’s commitment to creating value further down the lithium supply chain,” Mr Tan said. “We are now producing ore from our mine and making strong progress on the construction of our downstream processing facility which will produce lithium carbonate to sell as high grade feedstock for battery producers. Mr Tan said the first ETF was a positive development for the entire sector as it provides recognition of lithium’s growing appeal as an investment opportunity. “Global lithium carbonate production has recovered significantly since the Global Financial Crisis and is only going to increase further as the push towards ‘green’ transport solutions such as electric cars and E-bikes gained momentum,” he said.
For more information, please contact: Iggy Tan Jon Snowball Managing Director FD Third Person 08 9215 1700 08 9386 1233 0419 046 397 0424 473 841
Galaxy Resources is a Western Australian company which is soon to become one of the world’s leading producers of lithium – the essential component for powering the world’s fast expanding fleet of hybrid and electric cars. By 2010, GXY’s Mt Cattlin mine will be the world’s second largest hard rock producer of lithium and, through the development of its value adding lithium carbonate plant (17,000 tpa), the Company will be the largest and lowest cost lithium producer in China. Lithium concentrate and lithium carbonate materials are forecast to be in short supply against high future demand due to advances in long life batteries and sophisticated electronics including mobile phones and computers. Galaxy Resources has positioned itself to meet this lithium future by not only mining the lithium but by downstream processing to supply lithium carbonate to the lucrative Asian market.
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