Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australian lithium miner Galaxy Resources reported doubled ore production and 33pc higher concentrate sales in H1 2021, compared with the same period last year. 


Galaxy continues to see strong demand in the lithium industry and has realized 37pc greater prices for its concentrate in the first half of 2021 at $453/mt, compared with H1 2020. Q3 shipments are already well advanced, the miner noted in its interim 2021 earnings report. Galaxy also lowered the cost of production through a 73pc increase in production rates. 


The company more than doubled lithium concentrate production to 109,909mt in January-June, compared with 45,248mt in the same period last year. Meanwhile, concentrate sales rose 33pc to 78,416mt over 58,541mt in the same comparative period. 


Galaxy recorded a revenue of $38.6mn in H1 2021, up 66pc from $23.3mn in the same period last year. In the same comparative period, net profit increased to $64.3mn from a net loss of $22.1mn during the same timeframe. 

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