Galaxy Resources flags impairment charge on review of flagship lithium project

Mt. Cattlin project site. Image by Galaxy Resources

Australia’s Galaxy Resources on Wednesday flagged a non-cash impairment charge of $150 million to $185 million for the first half of 2019, as it carries out a review of its flagship project in Western Australia.

The lithium miner attributed the charge to the Mt Cattlin mine project’s development costs related to its acquisition of General Mining Ltd.

(1 Australian dollar = $0.6761)

(By Shriya Ramakrishnan)

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